Based on the latest literatures during 2006—2012, this paper rethinks and repositions the connotation of open innovation, then analyzes and summarizes four levels of influential factors on enterprises’ open innovation such as structure factor, technical factor, capacity factor and cultural factor from the perspective of value cocreation, summarizes and deepens the current literatures from such four perspectives respectively, on the basis of the above work, explores four paths to realize value cocreation between enterprises under open innovation: organizational change, process integration, capacity coordination and knowledge cocreation, and provides reference for further theoretical exploration through summarization and expansion on current literatures. 