How does traditional “Intellectual Property” fit into the modern discussion surrounding the value and practicality of “Intangible Assets,” “Knowledge Assets,” or what has come to be known as “Intellectual Capital?”
Intellectual Capital
"Intellectual capital assets" are those intangible, intellecual, knowledge-based assets that are the focus of strategic planning and the basis of competitve advantage in the global marketplace. They include, for example, brands, patents and other intellectual property, human capital, knowledge, know-how, and social capital.
As the knowledge-based economy expands, the companies and individuals that possess intangible intellectual assets, such as intellectual property, will need specialized expertise, strategic thinking, legal experience, and the wisdom necessary to manage intellectual assets.