INTANGIBLE ASSETS THROUGH THE COHESION POLICY

INTANGIBLE ASSETS THROUGH THE COHESION POLICY Roth Anne-Marie-Monika West University of Timisoara Faculty of Economics and Business Administration Popescu (Stingaciu) Ana-Maria West University of Timisoara Faculty of Economics and Business Administration Intangible assets in general and intellectual capital in particular are important to both society and organizations. It can be a source of competitive advantage for business and stimulate innovation that leads to wealth generation. Technological revolutions, the rise of the knowledge-based economy and the networked society have all led to the same conclusion that intangibles and how they contribute to value creation have to be appreciated so that the appropriate decisions can be made to protect and enhance them. The Cohesion Policy represents the main EU measure to ensure a balanced and sustainable growth in Europe by promoting harmonious development and reducing the regional disparities. The general objective of the paper is to highlight the important role of the Cohesion Policy in the development of intangible assets. The objectives and the instruments of the Cohesion Policy are designed to support programs on regional development, economic change, enhanced competitiveness and territorial cooperation through the European Union, to develop human resources and employability. Keywords: intangible assets, intellectual capital, Cohesion policy, development; JEL Classification: O43, G32, D24, O34