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This chapter provides a systematic overview of the findings in prior academic studies related to the relationship between R&D collaboration and innovative performance. The analysis of 66 paper contributions in the last decade indicates that R&D cooperation is, more often than not, beneficial for innovative performance. The findings however differ depending on the level of analysis that has been adopted: the dyadic, the alliance portfolio, or the alliance network level. The results also vary depending on the variable chosen to proxy (innovative) performance, suggesting that R&D cooperation strategies affect patent output, process innovation, new products development, and the economic returns differently. By offering a critical and systematic overview of the findings obtained by previous studies, the present chapter contributes to both managerial practice and academic research. © Oxford University Press 2012. All rights reserved.