Keywords: Rhodium / Iridium / Alkene ligands / Metallo-radicals / Ligand radicals In this review a detailed overview is given of the (electronic) structure and reactivity of open-shell (paramagnetic) alkene rhodium and iridium complexes M x (alkene) (M = Rh, Ir; x = 0, +II). In most cases these species are highly reactive, but some notable exceptions of stable species for which not much reactivity has been described are also included (section 2). coupling reactions with a series of other radicals, as well as metal-based allylic hydrogen atom abstractions from M II (α-alkene) species. On the other hand, (donor induced) ligand radical character is crucial in a variety of M-C and C-C radical coupling reactions, C-O bond formation by oxygenation of M II (alkene) species and alkene "insertions" into (por)M-H bonds. The review concludes with some speculations about possible roles of paramagnetic M(olefin) (M = Rh, Ir) species in catalytic olefin oxygenation and carbene transfer reactions.