Popularized in the 80s and 90s with international strategic alliances, Joint Ventures have been a prominent cooperative strategy. In the current highly volatile and antagonistic environment, organizations trying to create synergies are more acceptable to partner with their adversaries. Entering such a relationship with the opposition may present greater risk and complexity. This study investigates the intricacies of conducting a strategic management analysis of joint ventures between competitors. Considering the cognitive processes that drive the human factor and their frequent business applications, we proposed using an analogy to conceptualize our analysis objective. We named this analogy the Divorced Parents Syndrome, which is based on the circumstances of Co-Parenting, the situation where two parents undertake the upbringing of the child conjointly. We argued that the post-divorce dynamics developed in this triadic relationship present similarities with Coopetitions and offer valuable insights when assessing them. Additionally, we examined the strategic management theory steps and evaluated the differences and critical factors that arise when managing a Joint Venture (Child) between Competitors (Parents). We also offer our ideas and hypotheses produced by this body of work, signifying the importance of building trust, maintaining balance, and developing strong corporate governance. Finally, we describe Victus Networks, a joint venture created by two major competitors in the Greek telecommunications industry (Vodafone Greece & Wind Hellas). This case study analysis took into account the fundamental Co-Parenting ideas and the strategic management assumption of Coopetition that were provided by this document.