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ELEMENTS OF INTELLECTUAL CAPITAL IN TRADE
Abstract
In todays world, where we can witness the ubiquitous implementation of information and communication technologies along with the inevitable digitalization of business processes, the role of intangible assets, of intellectual property and intellectual resources for achieving sustainable competiveness is growing in importance. The aim of the present article is to contribute to the identification of the elements of intellectual capital in trade under the established fields in the economic literature: human, organisational and relational capital. The article includes certain theoretical and practical achievements of well-known researchers in the field of intellectual capital, which are founded on the methodology developed by Goeran Roos, Stephan Pike and Lisa Fernstroem. The specific characteristics/ of the trade activity and the differences between the elements of the intellectual capital in trade in comparison with other economic activities are taken into consideration. Consequently, the article introduces a theoretical model to identify the elements of intellectual capital in trade, which meets the requirement for detailed intellectual capital elements at minimum three levels. The suggested theoretical model will be verified at a subsequent stage in the trade practice. Building an intellectual capital tree is the mandatory first step in managing intellectual capital. The verification of the theoretical model of identifying the elements of intellectual capital in trade in the commercial practice provides for determining the respective weight of the elements of the intellectual capital and the degree of their importance for creating stockholder value. The management of the intellectual capital poses a serious challenge to the modern economic science and research. In the commercial field there is relatively little research related to intellectual capital at this stage, which defines the publication as necessary and timely.
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