Intangible assets are essential for longterm success from "summary" of Capitalism without Capital by Jonathan Haskel,Stian Westlake
Intangible assets, such as intellectual property, brands, and organizational know-how, are increasingly becoming the driving force behind wealth creation in today's economy. While tangible assets like buildings and machinery are still important, it is the intangible assets that are proving to be essential for long-term success. Unlike tangible assets, which can be easily bought and sold, intangible assets are more complex and difficult to value. They are often unique to each company and play a crucial role in shaping its competitive advantage. In the past, traditional measures of success, such as physical capital and labor, were seen as the key drivers of economic growth. However, in today's knowledge-based economy, intangible assets are taking center stage. Companies that are able to leverage their intangible assets effectively are more likely to succeed in the long run. This is because intangible assets are a source of sustainable competitive adva...
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