The aim of the modern enterprise is an increase in the broader values. An important
component and also factor in the company's value is its intellectual capital. One of the most
important problems of theory and practice in this area is the measurement and reporting of
intellectual capital of the company. There are two kind of approaches, namely the approach of
intellectual capital valuation based on market value of the company and approach to valuation of
various components of intellectual capital. This article addresses the methodological problems of
estimating the value of intellectual capital in the first of these approaches. The Authors have
indicated that the previous methodology for valuation of intellectual capital, in particular, in the
formula based on the difference of the market value of companies and its book value has an
important methodological flaw. Therefore the Authors proposed two slightly different formulas for
estimating the value of intellectual capital
