Co-opetition

Co-opetition is a business strategy where competing companies collaborate with each other to achieve mutual benefits. They might work together on certain projects, share resources, or combine efforts in research and development while still competing in other areas. This approach allows companies to innovate faster, reduce costs, and create better products or services. It recognizes that collaboration can lead to a win-win scenario, even among rivals, fostering a competitive yet cooperative environment that can drive overall industry growth and enhance value for customers.