Table: What Intangible Assets Are Worth

AVERAGE OF TOP FIVE COMPANIES IN EACH INDUSTRY* (millions)

DRUGS $81,336 COMPUTER HARDWARE 58,784 SOFTWARE 57,778 MOTOR VEHICLES 53,283 TELECOM EQUIPMENT 53,224 TELECOM SERVICES 48,586 ELECTRONIC COMPONENTS 48,025 FOOD 45,551 CHEMICALS 37,509 INSTRUMENTS 19,785 OIL & GAS 11,843 FABRICATED METAL 11,140 PRIMARY METAL 11,058 TRUCKING SERVICES 9,490 UTILITIES 9,096 INDUSTRIAL MACHINERY 7,844 RETAIL 7,349 RESTAURANTS 7,219 AIRLINE 7,034 PRINTING, PUBLISHING 6,468 APPAREL & ACCESSORIES, RETAIL 5,627 DURABLE GOODS, WHOLESALE 3,434

* Measured by market capitalization

Data: Baruch Lev and Feng Gu

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