Weightless wealth: four modifications to standard IC theory

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Abstract:

Standard Intellectual Capital theory contains some key assumptions or practices that limit our view on the weightless wealth of companies. Discusses four of those practices: first, the tendency to limit the discussion about the weightless wealth of companies to intellectual means of production. Second, the use of classification schemas that break down the total capital of a company into its contributing parts. Third, the tendency to treat intangibles the same way we treat tangible assets, by trying to force them into the double-entry bookkeeping system. Finally, the lack of suitable yardsticks that enable the user to judge whether measurements should be seen as too high or too low. For each of these practices an alternative is provided, based on a practical and fully tested methodology. Shows that it is still possible to enrich existing Intellectual Capital theory and make it more applicable in practice.

Keywords: Accounting; Core competences; Intangible assets; Intellectual property; Methodology

Document Type: Research Article

DOI: http://dx.doi.org/10.1108/14691930110399941

Publication date: September 1, 2001

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