MEANING OF INTELLECTUAL CAPITAL
This is the intangible value of a company, and is measured as the difference between the enterprise value of a company and the market value of its tangible assets.
Intellectual capital is knowledge that can be exploited for some money-making or other useful purpose. The term combines the idea of the intellect or brain-power with the economic concept of capital, the saving of entitled benefits so that they can be invested in producing more goods and services. Intellectual capital can include the skills and knowledge that a company has developed about how to make its goods or services; individual employees or groups of employees whose knowledge is deemed critical to a company's continued success; and its aggregation of documents about processes, customers, research results, and other information that might have value for a competitor that is not common knowledge.
Classification of Intellectual capital
• Human capital- The value that the employees of a business provide through the application of skills, know-how and expertise. It can be defined as all the unique ideas, skills, and knowledge that an individual owns and contributes to an organization.
• Structural capital- Structural capital is the structures and mechanisms that help support employees and includes procedures, routines and everything that is left in the organization. It includes processes, intangible assets like patents, and trademarks, as well as the organization’s image, information system, competitive market intelligence and proprietary software and databases.

• Relational capital
This refers to relationships with other organizations, market orientation, knowledge of customer relationships, knowledge of marketing channels, and competitor orientation (Bollen et al, 2005:1166) and implies knowledge rooted in relationships external to the organisation (Bontis,