Intangible assets are of growing importance to corporate competitiveness and economic performance. They include R&D, human capital, innovation in products and in organization, trademarks and patents, networking and software. This volume provides a theoretical and empirical analysis of intangible investment and its effect on public policy in Europe. The authors find that the growing importance of intangibles is transforming the direction of public policies in Europe, particularly industrial, R&D, competition and trade policies. They conclude that government policies must recognise the fact that intangible investment is becoming the key element in bringing about durable growth and accord at least the same priority to intangible factors as to physical investment.