Investment in intangible assets is growing quickly, according to government data, hinting at the UK’s continued shift towards a knowledge-based economy.

Intangible assets, such as ideas, logos and designs, received £137.5 billion in 2011, up 10 per cent from 2009.

During the same time investment in tangibles fell from £93 billion to £89.8 billion, according to figures from the Department for Business Innovation and Skills (BIS).

Ministers said it showed UK businesses building through knowledge and creative assets, over plant and machinery.

It said businesses are attaching more importance to “knowledge, innovation and creativity”.

Minister for intellectual property Lord Younger said: These investment figures show the strength and value of the UK’s creative and knowledge-based industries.

“Continued growth in investment in ‘intangible assets’, along with the fact that nearly half are protected by formal intellectual property rights, demonstrates that some UK firms do understand their real value.”