INTELLECTUAL CAPITAL & LONG-RUN COMPETITIVE ADVANTAGE

The main aim of the paper is to provide a synthesis of the new international framework of debate dedicated to intellectual capital. Intellectual capital is the source of wealth for individuals as well as for organizations. New economics and global knowledge-based society focus on a portfolio of intangible and intellectual assets to be managed. The paper presents some new approaches regarding intellectual capital & management of intellectual capital. Intellectual capital is an exciting area for researchers and practitioners. Businesses that know how to manage intellectual capital will be tomorrow's corporate winners. The enormous development of the "invisible" side of the economy result also in a series of contributions from the accounting sciences. Intellectual capital is the essential root system of competitiveness, but is often invisible in the traditional accounting systems. The paper presents some examples of how to measure, report and monitor intellectual capital.