The OECD, the European Commission, the World Bank, METI (Japan), and DIIS (Australia) are some of the many that have emphasized the importance of Intellectual Capital (IC) in fostering innovation and in promoting firm competitiveness in the current knowledge-intensive economy. However, despite the increasing attention of scholars to IC, theorizing on IC in connection to R&D Management, R&D projects, and R&D operations is very limited – including aspects such as open knowledge creation and management across the internal and external boundaries of the organization (including collaboration with public sector actors) and the related value generation. Likewise, limited practical advice is available.