Source: Organization for Economic Co-Operation and Development, February 2007
Intellectual assets have become strategic factors for value creation by firms. The expansion of the services sector, globalisation, deregulation, and the emergence of new information technologies have brought to the fore the issue of how knowledge is created, disseminated, retained and used to obtain economic returns. This has led to a structural change, from traditional scale-based manufacturing, which mainly relies on tangible assets, to new innovation-oriented activities which rely largely on research and development, patents, software, human resources and new organisational structures – collectively referred to as intellectual assets.
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