Coupled Open Innovation combines the methods of outside-in and inside-out innovation. It is often narrowed down to the joint development of new knowledge by complementing partners which contribute their own in-house resources in order to achieve a common goal. Firms often share the so-called background intellectual property which serves as the basis for the development of the foreground intellectual property of the collaborative project. Coupled Open Innovation can take the forms of joint research, consortiums, joint venture agreements, etc. Firms participating in coupled innovation should consider questions, such as the risk of knowledge spill-over during the collaborative project and carefully consider the pros and cons of their participation. Often members of such projects are direct competitors which might exploit a knowledge spill-over or undermine the competitive advantage of a rival participant.