Know-how is an intangible asset created by the collective skills, expertise and specialised knowledge possessed by employees within a company. It represents the practical understanding, insights and techniques gained through experience and training, which contribute to the company’s efficiency and competitive edge. Know-how refers to a wide range of abilities, including industry-specific knowledge, technical proficiency, problem-solving capabilities and best practices. This intangible asset draws its value from allowing employees to perform tasks more effectively and streamline processes while also acting as the engine of innovation. Recognising and leveraging know-how enhances productivity, fosters a culture of continuous learning and creates valuable intellectual capital.
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