What are the influences that affect the valuation of intellectual capital? How would you differentiate between quantitative and qualitative valuation methods? Which valuation method is most applicable to your organization? Why?

Explain.
You are discussing intellectual capital (IC) with a coworker. Your coworker asks, How can you put a value on something like innovation? It is not a real object, so how does it have a real value? Why is this important anyway? It is not like you can sell innovation, right?” How would you explain this to someone who does not have an understanding of IC valuation?