The Value And Function of Knowledge In an Era of Knowledge-based Economy

Knowledge-based economy is the ceonomy based on the production, allocation and utilization of knowledge. Compared with other forms of economy its prosperity and development depends on the accumulation and function of knowledge or effective information. During the era of knowledge-based economy the value of Knowledge should be reconsidered.The input of knowledge which takes the place of material consumption may bring great wealth to human beings,promote the society and develop education. The development of knowledge-based economy also induces more strict requirements for protection of intellectual property right.