Intellectual property can be defined as intangible property that is the result of creativity, such as patents, copyrights, etc.. Intellectual capital refers to the value of a companys collective knowledge and resources that can provide it with some form of economic benefit. Development. Sveiby, 1997; Edvisson and Malone, 1997). intellectual capital to facilitate their transformation serves as a beckoning example. d. The research is an academic attempt to shed light on the importance of intellectual capital in business organizations and the economic in general and how It is also known as intellectual capital which is the knowledge creativity and decision making that people contribute in an organization (Zinni et al 2011). The Three Branches of Intellectual Capital Abstract. This Intellectual capital constitutes intangible assets that will add the value of the company to achieve a competitive advantage. Drive sales and growth. More important is that Intellectual capital-intensive industries account for about 90 % of EU trade with the rest of the world, generating a trade surplus for the EU of EUR 96 billion 15. 3.) Keywords Performance measurement Intellectual property This study explores the types of intellectual capital (IC) information considered important by analysts. And, deepen customer and partner relationships. most of the intellectual capital literature, researchers agree that human capital or employee know how is a part of intellectual capital (e.g. Indeed, intellectual capital is includes all issues of important non-financial like human capital, customer satisfaction, and Companies with larger internal audit departments believe that intellectual capital is very important. Through intellectual capital, the firms are able to quickly adapt to the changes and remain competitive in the markets. Intellectual capital has increasingly become a source of competitive advantage due to innovation (Obeidat et al., 2017). 2016, p.43). intellectual capital is the value of firms intangible assets that arent reflected on the balance sheet . Intellectual capital and online learning Importance of Human Capital Human capital is the collective value of the capabilities knowledge skills life experiences and motivation of an organizations workforce. Future research should first attempt to quantify the Las Vegas gaming industry's current inventory of intellectual capital, based upon the models presented above. The advantage of intellectual capital There is a direct relationship between intellectual capital and business success. There is a direct relationship between intellectual capital and business success. In the fiercely competitive market, companies are scrutinizing every investment and maximizing returns on investment. Intellectual capital and success of company are related very closely. Role of Intellectual Capital in Innovation Innovation is an important driver of business growth and it also enables a company to offer products at competitive prices in better quality. All the things or procedures that add to the competitive advantage and can be used to create Intellectual capital is the ability of managers/owners which helps them in improving marketing assets and marketing resources that are important for high performance . Intellectual capital is the education, information, experience and intellectual property everything that allows a value creation. The importance of this study lies in the importance of intellectual capital as a key source of organizations profitability and a fundamental supporter of their competitiveness; the interest to it is imposed by the nature of scientific and economic challenges, rapid technological changes and intense competitive pressures. The Intangible Assets of the Kingston Communication include: 1.) Also intellectual capital is the most important factor that can ensure the survival of any organization or institution. Intellectual capital is set of knowledge, information, intellectual property, experience, competition and organizational learning that can be used for create wealth. https://elearningindustry.com/intellectual-capital-matter-what There are some authors who regard these Intellectual capital is one of the important internal environmental factors that influences management strategy related to innovative and . Therefore, in view of the belief that intellectual capital is the most important resource in the new economy, the same argument should be applied to the Masterminds. It includes the knowledge, expertise and the skills of the employees of the company which can be used for achievement of the goals. This paper discusses the importance and significance of 'intellectual capital' and its impact to Intellectual capital is known as an intangible value of an organizations employees skills, knowledge, training, or any other information that can provide a company with a Customer and Supplier Relationships. Moreover, the findings are particularly important for policysetters to highlight the importance of IC and develop a systematic framework for IC disclosure. Importance Of Intellectual Capital Employees are potential success resources for companies. Intellectual property plays an important role in development of businesses across sectors. c. The need to preserve the intellectual capital and means of investment that support the competitive advantages. Intellectual property is defined as any product of the human intellect. 5.) 4. reason due to the existence of both intellectual capital dimensions static dimension means that individual parts of intellectual capital can be measured and evaluated, dynamic dimension lies in the fact that such components are acting in mutual interaction as a system and by this way their importance for the society is duplicated. Goodwill. realizing the importance of the intellectual capital. Entrepreneurship and Intellectual Capital (IC) have become important concepts for economies around the world over the last decades, even though, due to their multidisciplinary nature, different definitions have been developed concerning these concepts (Oviatt and McDougall, 2005). Increase efficiency. Intellectual capital is important in maintaining a competitive advantage and the success of the organization in terms of innovation, efficiency improvement, research and development of new products, value addition for shareholders, and framework to describe the companys resources (Ramezan, 2011; Montequin et al., 2006; Moreover, the findings are particularly important for policy-setters to highlight the importance of IC and develop a systematic framework for IC disclosure. Intellectual capital is a term used in business school to teach executives the importance of taking into account the value of intangible assets. Software. It is very difficult to quantify and effectively use this intellectual power, only when you turned it on effectively, it will work for your advantage. Companies that measure their intellectual capital can use it to: Create more value. in addition, the contribution of intellectual capital in the knowledge-based economy looks at key issues such as: improving organizational performance; increasing the visibility of some organizations in comparison with others, especially when it is possible to talk about the role of intellectual capital as a basic The term Intellectual Capital collectively refers to all resources that determine the value of an organization, and the competitiveness of an enterprise. It is an intangible assets of the organization which grows if the firm is to prosper unlike other assets which begin to depreciate the day they are acquired. Technology and Brands. Intellectual capital refers to the intangible assets that contribute to a company's bottom line. These assets include the expertise of employees, organizational processes, and the sum of knowledge contained within the organization. Its also used to identify a firms intangible assets and divide them into meaningful categories. Improve products and services. The purpose of this study is the development of Collective intelligence is the positive emergence of group wisdom from crowdsourcing intellectual capital. "Companies like Toyota, Microsoft and Walmart understand that intellectual capital is more important than anything else for business success, investing over $ 130 billion in training each year." The data-collecting instrument was the semi-structured interview, held with This study explores the contributions of different dimensions of the intellectual capital of higher education institutions (ICHEIs) to their performance, incorporating the previously unexplored dimension of quality of life (QoL) as a performance measure, and correspondingly taking into account the connection between the Theory of Stakeholders and the Theory of Legitimacy. Intellectual capital and online learning 4.) The improved prices and quality contributes to the competitive advantage and However, the importance of intellectual capital in Vietnam, and especially in the banking sector, has largely been ignored in the literature. Business organizations can only remain competitive if they are able to constantly create, update and effectively utilize knowledge intellectual capital to overcome the operational and the technical challenges. 2.) Today all of the big companies which have big part of economy, employ the best talented people. Thats why Roland has always believed in the three Ms. It includes relational capital, human capital, and structural capital. Given the benefits that come about from investing in intellectual capital, the managers have to identify the intangible resources that are important in creating and maintaining a competitive advantage within the organization (Daum, 2003). The management can use the experiences of other organizations to gain knowledge of the intangible resources. Particularly in an ever-increasing digital economy where a business may rely on its intangible assets to operate and succeed. According to Choong (2008), intellectual capital refers to the intellectual assets that have been captured, formalized and even leveraged. The report discusses the relative importance of the Intellectual Capital in the present economy due to the revolution that fosters the propagation of the value creation. Mentors. The three Ms are: Models. Intellectual capital is considered as one of the vita strategic assets for the success and sustainability of the organization in a competitive business environment. While hard times can teach us many things, its not the only way to learn. The Importance of Intellectual Capital Management in the Knowledge-based Economy. Intellectual Capital is the capital that adds to the wealth of the organization. Importance of Intellectual Capital Knowledge has become the most valuable resource within the emergence of the new economy (Secundo e al. The importance of the concept of intellectual capital in the age of knowledge becomes the new core of economic progress, since the influence of fixed assets and financial assets is reduced in comparison to the influence of intangible assets. An organisations intellectual capital is said to be a source of competitive advantage and there is evidence that business success can be partly explained by its intellectual capital. The three dimensions of intellectual capital are Human, Relational and Structural. It is important to remember that businesses of all sizes will hold intellectual property. The Power of the Three Ms. Intellectual capital is one of the important areas for developing the competitive advantage of organizations. Intellectual capital is defined in different ways : Intellectual capital is a set of non- financial ,non physical resources that procures a copmpetitive advantage for the enterprise (Jussupova , Mariethoz and Probst , 2007) . This assessment would quantify the intellectual assets possessed by a city that is often Finally, the evidence suggests that business performance measurement systems are being implemented to a larger extent at entities that place a greater emphasis on intellectual capital. 2.2 Principles of collective intelligence. This study aims to analyse the importance of intellectual capital (IC) in networks formed by start-ups, with a view to obtaining resources that individually they would be unable to acquire.,To achieve this aim, a qualitative approach was adopted, and within this, the case study method was used. The acceptance of knowledge as a resource is a suggestion that knowledge is transferable, acquirable and can be combined and used to gain a competitive advantage (Zeghal and Maaloul 2010, p.18). It is a synergy between (1) knowledge/information, (2) software/hardware, and (3) technical experts. Intellectual capital is also recognized as the most crucial asset for the survival of knowledge intensive organizations. The Intellectual Assets of an organisation play a vital role in improving its value and maintaining the competitive advantage. "Companies like Toyota, Microsoft and Walmart understand that intellectual capital is more important than anything else for business success, investing over $ 130 billion in training each year."