Читать книгу The IP Box Regime. A Study from an International and European Perspective - Elizabeth Gil García - Страница 10

As above-mentioned, Frascati and Oslo Manuals have traditionally offered accepted definitions on R&D&I at the international framework. However, knowledge-based capital (KBC) appears as a broader standard. In fact, while investment in innovation has traditionally been proxied by indicators such as spending on R&D, innovation-based growth relies on a much broader range of knowledge-based capital.30

Knowledge-based capital comprises intangible assets that create future benefits, such as software and databases, intellectual property (IP) products, and economic competencies.31 These assets create value –even if they do not have a physical embodiment–.32

In regard of the classification of KBC, it should be distinguished first the computerised information (e.g., software and databases). Second, the innovative property, which refers to R&D, mineral explorations, patents, trademarks, copyright and licence costs, among others. Finally, the third KBC category is the one that refers to economic competencies, such as brand-building advertisement, market research, worker’s training, firm-specific human capital, networks of people and institutions, inter alia.33

Therefore, KBC refers to non-tangible assets whose basis is knowledge. That is to say, R&D&I may contribute to create knowledge-based capital,34 and, at the same time, KBC can be used in production. This non-tangible form of capital is the largest structure of business investment and a key contributor to growth in advanced economies. Precisely, companies can avoid taxation related to income earned from the use of KBC.