East is East, and West is West, and (n)ever its intellectual capital shall meet

Purpose – The purpose of the paper is to start a dialogue about the differences between Western and Eastern cultures in the way they conceptualize knowledge, and to discuss the implications of these differences for global intellectual capital (IC) theory and practice. Design/methodology/approach – A systematic metaphor analysis of the concept of knowledge and IC is used to identify common Western conceptualizations of knowledge in the IC literature, and is combined with a review of philosophical knowledge conceptualizations in the main streams of Asian philosophy. Findings – Basic differences were found in the way knowledge is conceptualized. In Western IC literature, common metaphors for knowledge include knowledge as a thing and knowledge as capital. In Asian thought, knowledge is seen as unfolding truth based upon a unity of universe and human self and of knowledge and action. Research limitations/implications – Western conceptualizations of knowledge, embedded in terms like intellectual capital and knowledge management, cannot be transferred to Asian business without considering the local view on knowledge. Asian conceptualizations of knowledge should play an important role in the further development of a knowledge‐based theory and practice of the firm. Originality/value – Western IC theorists will have to be cautious of monopolizing their thesis as a universal theory of IC. There is a need for cultural differentiation also regarding IC, as the conceptualization of knowledge is always featured by the main trends in a philosophical tradition.