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The consensus among the experts is that intellectual capital- made up of knowledge and ideas - is now replacing physical capital - factories and machines - as the key driver of wealth creation. Intellectual assets, then, are now more valuable than those that have traditionally enjoyed pride of place in annual reports.
If intellectual capital is the new competitive imperative, then new ways of managing those assets are required. It is against the background of the new knowledge economy that Bill Gates emerged as a powerful new leadership model.