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Suggested Citation:"Science, Technology, and Economic Policy Board." National Research Council. 2009. Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth. Washington, DC: The National Academies Press. doi: 10.17226/12745.
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SCIENCE, TECHNOLOGY, AND ECONOMIC POLICY BOARD

The National Academies’ Science, Technology, and Economic Policy (STEP) Board was established in 1991 as a National Research Council standing committee to advance understanding of the relationship of science and technology and national economic performance and living standards and to recommend appropriate public policies. Composed of senior-level industrial technologists, research scientists, academic economists, and financial executives, the STEP Board has conducted studies of innovation and competitiveness in a wide range of technology-intensive sectors including computing, software, semiconductors, pharmaceuticals and biotechnology, aerospace, financial services, and logistics. With the sponsorship of a growing number of federal government agencies, foundations, multinational companies, and international organizations, the STEP Board program has become an important discussion forum and authoritative voice on technical standards, intellectual property, trade, taxation, human resource, entrepreneurship, and statistical as well as research and development policies. STEP activities and products are described at http://www.nationalacademies.org/step/.

Suggested Citation:"Science, Technology, and Economic Policy Board." National Research Council. 2009. Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth. Washington, DC: The National Academies Press. doi: 10.17226/12745.
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Suggested Citation:"Science, Technology, and Economic Policy Board." National Research Council. 2009. Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth. Washington, DC: The National Academies Press. doi: 10.17226/12745.
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Page 109
Suggested Citation:"Science, Technology, and Economic Policy Board." National Research Council. 2009. Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth. Washington, DC: The National Academies Press. doi: 10.17226/12745.
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Page 110
Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth Get This Book
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Intangible assets--which include computer software, research and development (R&D), intellectual property, workforce training, and spending to raise the efficiency and brand identification of firms--comprise a subset of services, which, in turn, accounts for three-quarters of all economic activity. Increasingly, intangibles are a principal driver of the competitiveness of U.S.-based firms, economic growth, and opportunities for U.S. workers. Yet, despite these developments, many intangible assets are not reported by companies, and, in the national economic accounts, they are treated as expenses rather than investments.

On June 23, 2008, a workshop was held to examine measurement of intangibles and their role in the U.S. and global economies. The workshop, summarized in the present volume, included discussions of a range of policy-relevant topics, including: what intangibles are and how they work; the variety and scale of emerging markets in intangibles; and what the government's role should be in supporting markets and promoting investment in intangibles.

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