Abstract:
The notion that knowledge is a source of competitive advantage has been advocated extensively in the management literature over the past decade (i.e., Winter, 1987; Quinn, 1992; Nonaka and Takeuchi, 1995). The value of intangible assets increases as goods and services become more sophisticated in content and production and the foundation of competition becomes intensively knowledge-based. As hypothesized by Teece (1998: 76), "the key sources of wealth creation at the dawn of the new millennium will lie with new enterprise formation; the renewal of incumbents; the exploitation of technological know-how, intellectual property, and brands; and the successful development and commercialization of new products and services"
