It’s an idea that’s a non-starter at many organizations: collaborating with a competitor. But Yale School of Management professor Barry Nalebuff says leaders who refuse to consider teaming up with other companies—even when there are clear mutual benefits—may be leaving value on the table.

In this episode, you’ll learn how companies like Apple, Ford, Google, and others have analyzed and capitalized on what Nalebuff calls “co-opetition” opportunities. You’ll also learn how to think strategically about which tasks work well for these collaborations and how to mitigate your organization’s risk through time-tested tools like contracts, performance guarantees, and conditional penalties.

Key episode topics include: strategy, negotiation strategies, competitive strategies, co-opetition, collaboration.

HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.