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This book studies the interplay between open innovation and knowledge management issues in small and medium-sized enterprises (SMEs). With the proliferation of the open innovation paradigm and against the backdrop of increasing external knowledge transfer activities, knowledge management is more important than ever for innovation and firm performance in any type of organization. In fact, knowledge management is no longer a purely intra-organizational activity but constitutes a vital interface function between an organization and its external partners/stakeholders.In this second edition, an updated overview of open innovation, knowledge management, and the interplay between the two is provided, reflecting the latest developments in the field. The book is organized into three sections: Part 1 introduces the foundational concepts under discussion, Part 2 provides empirical research insights, and Part 3 addresses promising future avenues in the study of open innovation and knowledge management. Each chapter is written by leading international researchers, providing valuable perspectives from the forefront of the field.