In our line of work we often work with other companies as partners on some jobs, and then compete against them on other jobs. So they are partners and competitors. Is there a good term for this, along the lines of "frenemies"?
I don't believe that there's any term such as frenemy that encapsulates the ideas of both partner and competitor when it comes to companies. You could perhaps choose from some of the more non-committal related terms such as:
On second thought, I suppose that only peer could be construed as completely neutral. But there you have it.
Since you have invoked the [portmanteau-words] (0 followers) I will suggest: