Quick Answer: What Is Meant By Intellectual Capital?

Why is intellectual capital important?

The intellectual capital assists in creating wealth and in the production of other high valued assets.

Intellectual capital in a business includes the wealth of the ideas and the ability for innovation which highly determines the future of the firm..

What are the three types of intellectual capital?

Moreover, the study divided intellectual capital into three types: employee capital, structural capital, and customer capital. We analyzed that these three types of intellectual capital are positively associated with innovation performance as follows.

How do you develop intellectual capital?

Develop competencies.Replace the less-qualified performers with people who are more qualified. … Invest in the current workforce to make it stronger by concentrating on activities that will help employees learn new technical and management skills that will increase the organization’s intellectual capital.More items…

How does Wendy’s define their intellectual capital?

Intellectual capital refers to knowledge, creations, ideas and other types of intangible assets critical to any organization, its identity, and success. … According to (The Wendy’s Company, 2013 ), as a fast food franchise, Wendy’s intellectual capital contains all its owned trademarks, copyrights, trade secrets.

What is an intellectual capacity?

Intellectual ability is the capacity to take in, compare, and recall data. … There are a number of ways to measure your intellectual ability, from an IQ test to the SATs.

What is the difference between human capital and intellectual capital?

Magrassi defines human capital as “the knowledge and competencies residing with the company’s employees” and defines organizational intellectual capital as “the collective know-how, even beyond the capabilities of individual employees, that contributes to an organization.”

What is intellectual capital in knowledge management?

Intellectual capital is presented by organization knowledge using for creation of organization wealth. … Moreover such sources content value of relationships in the frame of organization and external relationships. Intellectual capital is then combination of human, society and organization capital.

What is the definition of human capital?

Human capital is the stock of habits, knowledge, social and personality attributes (including creativity) embodied in the ability to perform labour so as to produce economic value. … Companies can invest in human capital for example through education and training enabling improved levels of quality and production.

What are the components of intellectual capital?

A consensus has been developed that intellectual capital can be characterized as consisting of three components:human capital,external capital.internal capital (Edvinsson and Malone, 1997; Stewart, 1997; Sveiby, 1997).

Is knowledge a capital?

Knowledge capital is the intangible value of an organization made up of its knowledge, relationships, learned techniques, procedures, and innovations. … Knowledge capital, sometimes referred to as intellectual capital, is considered an intangible asset.

What are the 4 types of intellectual property?

There are four types of intellectual property rights (IP): patents, trademarks, copyrights, and trade secrets.

What can intellectual capital guarantee you?

Intellectual capital is considered an asset, and can broadly be defined as the collection of all informational resources a company has at its disposal that can be used to drive profits, gain new customers, create new products or otherwise improve the business.