What is knowledge and how it can be valuated?

In this paper, we present a conceptual model for knowledge valuation. After a literature review, over various definitions on knowledge, we first extracted the main plausible features of knowledge both its nature and meaning. The main features are amount of information, verification of information and retrieval ability of information. We then developed a three dimensional model to valuate knowledge. The surrounded volume amount these components can represent the knowledge value. To see how powerful our model is, we have considered a case study. It has been shown that the model can valuate customer knowledge. We extracted different aspects of knowledge value from the literature and showed that they can be also acknowledged by the proposed model. The model provides a general framework for knowledge valuation and can be used to valuate human and artificial knowledge.