Intellectual Capital/Stewart 59-63

60 Most of the value of the company was human capital.

61 When a company is bought for more that its book value, that premium usually consists of intellectual assets--anticipated revenues from patents, customers relationships, brand equity, etc., plus a premium for obtaining management control.

...goodwill..accounts for more than half the purchase price.

63 The long-range goal is to extend the work of knowledge management into less defined, and more valuable areas of intellectual capital--"art and know-how," trade secrets and technical expertise.

...calculated that for most organizations the ratio of the value of intellectual capital to the value of physical and financial capital is between five-to-one and sixteen-to-one. The inevitable metaphor is the iceberg. Above the surface, the financial and physical resources, glittering in the sum, visible, sometimes even awesome. Beneath, unseen, something vastly larger, whose importance everyone recognizes but whose contours no one knows.