The Balance of Intellectual Capital (BIC) is a methodology for evaluating the intangible assets of an organisation (a corporation or business)

• The BIC is a document that defines the intangible assets of a business, or in other words, that set of knowledge, skills, and relationships that constitute essential elements in the process of creating value. The elements that make up the IC can be divided into 3 categories:
• Human capital
• Relational capital
• Structural capital.

• The Human Capital (or thinking capital) is the set of skills, capacities, and expertise gained by those who work in the company. Given that the people are in a company only temporarily, it is opportune to convert human capital into structural capital by sharing skills and expertise.
• The Structural Capital (or thought capital) is the property of the company and consists of results and elements that support individuals in fulfilling their job requirements: Patents, brand names, software,  codified processes, industrial secrets, etc.
• Relational Capital encompasses all those direct and indirect relations that the structure establishes with stakeholders, not only clients, but also suppliers, financial backers, partners,  public agencies, the local community, etc.
• The management of Intellectual Capital, in order to be efficient and effective, requires the management of various components and the interrelationships between them, in order to increase know-how useful for creating value