Davis (1999)[9] further notes that the computer chips in a high-end automobile are worth more than the steel, plastics, glass, or rubber.
However, Davis and Botin (1994)[10] indicate that awareness of the value of knowledge exceeds the ability of many businesses to extract it from the goods and services in which it is embedded.
Measuring the value of knowledge has not progressed much beyond an awareness that traditional accounting practices are misleading and can lead to wrong business decisions (Martin, 1996).
Amidon (1997)[7] points out that the shift from tangible to intangible assets will revolutionize the way that enterprises are measured and that there is an entirely new way to value economic wealth.
The stages are: generate, transform, manage, use internally, transfer, add value, use professionally, use personally, and evaluate.