Addressing global challenges such as climate change, inequality, and resource depletion requires innovative collaborative strategies. This paper explores the concept of coopetition —simultaneous cooperation and competition among organizations — as a means to tackle these issues. We shift the focus from the commonly studied 'how much' value is created in coopetition to 'what' type of value is created. Utilizing a taxonomy of private, public, club, and common goods, we examine how different types of value influence the processes and outcomes of coopetition. Through examples in the aviation industry we illustrate how the nature of the goods produced affects the organization and effectiveness of coopetition. Our findings challenge the traditional view that synergetic value creation is necessary for successful coopetition as we propose instead that coopetition can be viable even without synergistic value. This study provides new insights into the economic underpinnings of coopetition and offers practical guidance for organizations and policymakers aiming to foster sustainable practices through innovative collaborative models.