Knowledge management processes, taken from the process capability view, enable employees to create, capture, share and leverage their collective knowledge to improve performance, and thereby add value to the organization s intellectual capital and performance. Indeed, knowledge management is not a product that can be bought but rather a capability that is built over time and become translated into intellectual capital. As such, interactions among KM processes contribute significantly to the creation of IC. IC value increases as a result of knowledge flows among human capital, structural capital and social capital. Through effective knowledge management processes, which include knowledge acquisition, conversion and application, a knowledge asset can be identified and important knowledge can be exploited for value creation purposes. Value creation occurs through knowledge management processes during which an employee s knowledge is transferred into organizational knowledge or practices that can then be passed on to customers in the form of products or services.