Intellectual Capital and Issues of Its Application in Bulgaria

There are different definitions of "intellectual capital" in the literature and the concept is still obscure. Its clarification is of theoretical and practical importance, which will contribute to the development of the economic science and will promote intellectuality and competitiveness of production. The crucial role of knowledge and skills for sustainable development under the conditions of "the new economics" is pointed out. Main terms, relevant to the intellectual capital, are analysed, and a new definition is formulated. Issues about the establishment of this capital are raised and areas for its better using in Bulgaria are proposed.