Universities are currently undergoing a 'second revolution' these days, inc
orporating economic and social development as part of their mission. The fi
rst academic revolution made research an academic function in addition to t
eaching. Now the emerging entrepreneurial university integrates economic de
velopment as an additional function. The 'capitalisation of knowledge' take
s many different forms that are discussed in this article. (C) 1998 Elsevie
r Science B.V. All rights reserved.