ABSTRACT
In accordance with the structural changes in the economic environment caused by the so-called ‘new economy’, advances in IT development and deregulation have resulted in corporations being confronted with a paradigm shift from a ‘tangible business strategy’, based on tangible business resources including financial assets, property and equipment, land, etc. (referred to as ‘tangibles’ hereafter), to an ‘intangible business strategy’, based on intangible business resources including intellectual property, research and development, and business know-how (referred to as ‘intangibles’ hereafter).
