Intellectual capital is the value that companies are able to extract from the intellectual property - product innovation, patents, copyrights, know-how and corporate knowledge. Many firms now have intellectual property as their major asset. In order to fully extract its value, companies must first understand what intellectual capital is, where it resides, how to invest it, and how to harvest it. More importantly, they must determine the strategic value of all of the company's intellectual assets, and how to express the value to the marketplace.