In today's increasingly knowledge-driven economy, intangible assets often matter more than the more traditional physical ones with companies competing with ideas, innovation and knowhow rather than with factories, machinery or 'product' alone.
Two terms frequently used in this context are intellectual property rights and intellectual capital but what is the difference between intellectual property rights and intellectual capital?
Although they are closely related and sometimes used interchangeably, they are not actually the same thing. However, understanding the difference between intellectual property rights and intellectual capital is essential for entrepreneurs, managers, investors, in fact for anyone involved in creating or managing knowledge-based value.
