Intellectual Capitals, define IC and its origin, classification IC

Intellectual Capital (IC) refers to the intangible value of a business, which includes its people, the value relating to its relationships, and everything that is left when the employees go home, of which much is proprietary knowledge. It is the sum of everything everybody in a company knows that gives it a competitive edge.

The concept of Intellectual Capital originated in the 1980s, and it was popularized in the 1990s, particularly by Thomas A. Stewart in his book, "Intellectual Capital: The New Wealth of Organizations". The term was used to highlight the fact that a company's value consists of more than just tangible assets and financial capital, but also the wealth of knowledge and resources in its employees' heads, its organizational systems and processes, and its relationships with stakeholders.

Intellectual Capital is typically classified into three categories:

1. Human Capital: This refers to the knowledge, skills, and abilities of the people within an organization. It is the value that the employees provide through their skills, abilities, and experience.

2. Structural Capital: This includes the supportive infrastructure, processes, databases, patents, trademarks that enable human capital to function. It is owned by an organization and remains with an organization even when people leave.

3. Relational Capital: This refers to the relationships that a company has with its customers, suppliers, and stakeholders. It includes values derived from brand, reputation, partnerships, and networks.

These three types of Intellectual Capital are interrelated and together contribute to the overall value and competitive advantage of an organization.