Final answer:
Intellectual capital refers to the valuable skills and knowledge that employees of a business possess, which includes experience, expertise, and skills that add value to the organization.
Step-by-step explanation:
The valuable skills and knowledge that employees of a business possess are collectively called intellectual capital. This term encompasses the experience, expertise, and skills that the workforce brings to an organization, contributing to its value and competitive edge.
Intellectual capital is different from intellectual property, which refers to the body of law, including patents, trademarks, copyrights, and trade secret law, that protect the rights of inventors to produce and sell their inventions.
Intellectual capital is a key component of a company's assets and is nonexcludable and nonrivalrous, meaning it can be used by many without excluding others.
It often leads to positive externalities, which are beneficial spillovers to third parties. Additionally, it includes private benefits that a company captures from its unique innovations and processes.
correct answer: d. intellectual capital