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Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets

Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets Spring 1998 | V ol.40, No.3 | REPRINT SERIES California Review Management Capturing Value from Knowledge Assets: The New Economy, Markets for Know-how, and Intangible Assets David J. Teece © 1998 by The Regents of the University of California Capturing Value from Knowledge Assets: THE NEW ECONOMY,MARKETS FOR KNOW-HOW, AND INTANGIBLE ASSETS David J. Teece anagement is always confronting new challenges. Sometimes these are simply yesterday’s challenges presented anew in a slightly differ- ent context. But from time to time, new challenges emerge that have Mno close precedent. Managing intellectual capital in the information age is possibly one such challenge, as advanced industrial economies have entered a new epoch. Many sectors are animated by new economics, where the payoff to managing knowledge astutely has been dramatically amplified, in part because of the phenomena of increasing returns, in part because of new infor- mation technology, and in part because of the changing role of intellectual prop- erty. Moreover, the context in which knowledge assets are created and exploited is today truly global. Knowledge and Competitive Advantage It has long been recognized that “economic prosperity rests upon knowl- edge and it useful application.” Indeed, “the increase in the stock of useful http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png California Management Review SAGE

Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets

Teece, David J.
California Management Review , Volume 40 (3): 25 – Apr 1, 1998
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References (26)

Publisher
SAGE
Copyright
© 1998 The Regents of the University of California
ISSN
0008-1256
eISSN
2162-8564
DOI
10.2307/41165943
Publisher site
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Abstract

Spring 1998 | V ol.40, No.3 | REPRINT SERIES California Review Management Capturing Value from Knowledge Assets: The New Economy, Markets for Know-how, and Intangible Assets David J. Teece © 1998 by The Regents of the University of California Capturing Value from Knowledge Assets: THE NEW ECONOMY,MARKETS FOR KNOW-HOW, AND INTANGIBLE ASSETS David J. Teece anagement is always confronting new challenges. Sometimes these are simply yesterday’s challenges presented anew in a slightly differ- ent context. But from time to time, new challenges emerge that have Mno close precedent. Managing intellectual capital in the information age is possibly one such challenge, as advanced industrial economies have entered a new epoch. Many sectors are animated by new economics, where the payoff to managing knowledge astutely has been dramatically amplified, in part because of the phenomena of increasing returns, in part because of new infor- mation technology, and in part because of the changing role of intellectual prop- erty. Moreover, the context in which knowledge assets are created and exploited is today truly global. Knowledge and Competitive Advantage It has long been recognized that “economic prosperity rests upon knowl- edge and it useful application.” Indeed, “the increase in the stock of useful

Journal

California Management Review – SAGE

Published: Apr 1, 1998

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