This chapter highlights how the three core processes of open innovation (OI) should be organized and managed when the OI process concerns direct rivals. We seek to show how OI between competitors affects each of the three OI processes and leads to new potentially fruitful research areas. We also attempt to define a research program for OI involving full collaboration with competitors: the outside-in from a competitor, the inside-out to a competitor, and the coupled innovation process between competitors. We call this strategy open coopetition and use the OI and coopetition literatures to highlight the main promising research avenues inspired by this new concept.