The development of new binders used for coatings has traditionally been driven by a combination of the need for technical improvements and increased environmental awareness, together with stricter legislation regarding VOC (volatile organic compound) emissions. One interesting way to achieve new types of binders is to combine already existing ones, thereby exploiting the positive properties of both. In the present study, a combination of an alkyd and an acrylic dispersion was used to produce a potential hybrid binder. The structures of the binders both in the liquid state and in films prepared from the hybrids were studied using several microscopy techniques. It was found that the preparation method of the hybrids affected the morphology to a large extent, and the structural information was also linked to the rheological behaviour of the hybrids as well as to the mechanical properties of the final binder films