The speed of the shift to intangible assets has been remarkable. In 1975, about 83 per cent of the market value of companies on the Standard and Poor 500 stock market index comprised tangible assets. Intangible assets accounted for the remaining 17 per cent. By 2015, those proportions had reversed. Only 16 per cent of the S&P 500’s value could be accounted for by tangible assets, and 84 per cent by intangibles.
