“Duplicity” somehow manages to make a boring story entertaining, a complex plot comprehensible and miserable characters likeable.

Set against the all-too-familiar backdrop of corporate greed and supremacy, writer/director Tony Gilroy returns to familiar territory after last examining the shady side of corporate America in “Michael Clayton.” On this run, however, Gilroy ditches the heavy tones and antitrust sermons to examine the “lighter” side of Fortune 500 espionage.

The movie unfolds slowly, meticulously avoiding giving away any key details. This technique that Gilroy has perfected actually requires the utmost attention of the viewer, making a bathroom break entirely out of the question.

Ray (Clive Owen) and Claire (Julia Roberts) are two lovebirds who just happen to be former secret agents. Their DNA is hardwired to deny everything, admit nothing and to always make counter-accusations, making a relationship between these two more like a constant polygraph test.

Now, Ray is working for an evil soap company and Claire is working with the competition, a massive health product corporation which is on the brink of announcing a breakthrough product. Without giving too much away, the story revolves around the mysterious product and the lengths the opposing companies will go to destroy each other.

If this sounds like a drag, don’t be discouraged. “Duplicity” is ripe with material that is seemingly dull at first, but the filmmaker knows what he’s doing. Every little head-scratching ponder is worth the final payoff when the question of “who’s gaming who?” is finally answered.

Amid the layered story though is the synergistic duo of Owen and Roberts. It’s good to see Roberts back in her prime after the forgettable “Charlie Wilson’s War,” and it’s even better to see Owen stray away from the tough Englishman persona and try some dialogue-heavy exchanges. When these two share the screen together, it’s like watching a “Greatest Hits” montage.

Their performances as husband and wife in “Closer” were endearing, but in “Duplicity” they’re allowed to do a bit more. Their back-and-forth banter is spot-on and each snap off with ferocity is unmatched with most Hollywood on-screen couples these days.

Paul Giamatti and Tom Wilkinson, who both play the CEO’s of the dueling companies, add some amusing moments to the film, including one very slow fight scene, but they are harshly under-utilized. Instead of focusing on these two superb character actors, the script unfortunately tends to focus on minor, uninteresting characters.

It’s easy to get lost in the film, and just when you think you’ve figured out who the players are and what the game is, you realize “Duplicity” is so subtly devious that it’s been playing you all along.