ABSTRACT
In this chapter, various definitions of intellectual capital (IC) are reviewed, followed by their assessment and measurement. The terms knowledge assets, intangibles and intellectual assets or IC are sometimes used interchangeably in the literature. Intellectual capital as a knowledge asset and its management based on Boisot’s model is introduced. Most corporate knowledge assets are tacit, which reside in the head of their employee (the human capital) and are not owned by the organization. The management may not be even aware what and where these valuable assets are. There is a need to find out what is the status of these corporate assets to avoid knowledge risks such as leakage, loss, shortage and obsolescence. A methodology of capturing and retaining the critical knowledge in workplaces through a systematic knowledge audit is also highlighted.
