For decades, patent specialists had the perception that they knew what the concepts of intellectual property were about. They were wrong: advanced economic thinkers use a much broader approach of which intellectual property is only a part. The new paradigm is centred around the term ‘intellectual capital’, essentially the sum of all intangible assets plus the human resources in a corporation. Intellectual capital can be measured and managed: a new and exciting approach to determine the value of knowledge companies and increase their profits. This raises new opportunities, and new threats, for the players in the game.