The dual-natured direction of intellectual capital formation in the system of higher education

Introduction. In. modern world, higher education institutions (HEIs) play a key role in the development of science, technology, industry, economics and, most importantly, the development of humans, their individual and social consciousness, which are key innovative resources for sustainable development. At the same time, the specificity of the HEIs' intellectual capital leads to the formulation of a paradox: higher education is both the most and the least (at least domestic one) intellectualized economic structure. HEIs are a source of knowledge, their staff, students and graduates - its carriers and, at the same time, domestic universities are stagnating in their development, not using this knowledge as a value-generating income factor. Aim and tasks. The purpose of the study is to develop a model in order to analyze the formation and implementation of HEIs' intellectual capital in the entire structure of their economic activities. The model is proposed in order to identify the motives and ways of its development and the awareness of its main feature - a dual-natured direction, manifested for universities, scientific and teaching staff, students, business and state. Results. The article deals with an analysis of possible directions for achieving the goals of the HEI in the implementation of its chosen business model, as well as the relationship of elements of intellectual capital, should be based on the proposed model, which allows its management to ensure the synergistic effect of the totality of its components. Conclusions. The study presents the main sources of innovative advantage, and also describes how the intellectual capital of the HEI is related to its market value. It is a process of commercialization of knowledge, which generates intellectual capital at the HEI, giving it not only scientific and educational value, but also market value. Collaboration between HEIs and industry offers researchers the opportunity to increase the value of their intellectual capital through monetary or contextual support for research, which contributes to their greater scientific productivity. As for students, this allows them, in particular, to gain practice, learn to apply theoretical knowledge in practice and respond to business needs.