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Intellectual capital is the cornerstone of corporate success in the new economy. This article will discuss the meaning, measurement, and management of intellectual capital. It discusses the forces driving the concern about intellectual capital and how one company, Intel Corporation, has been able to manage intellectual capital to achieve market dominance. Unlike Philip Morris, Coca‐Cola or McDonald’s, which earn hundreds of millions year‐in and year‐out from the same product lines, technology companies must constantly reinvent themselves. Intel has managed to do this, but it is the exception.

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