There is considerable interest in studying the risk of sharing knowledge in coopetition for innovation and the managerial solutions to reduce this risk (i.e. misappropriation and opportunism). However, our case study in the pharmaceutical industry highlights that the identified managerial solutions identified in this literature do not completely prevent misappropriation and opportunism. Thus, past research overlooked the fact that in coopetition for innovation, firms might need to share knowledge even if this knowledge is not protected from misappropriation and opportunism. Our case study digs deeper into the implementation of a risky knowledge sharing in coopetition.