McDermott describes six characteristics of knowledge that distinguish it from information:
(1) Knowledge is a human act.
(2) Knowledge is the residue of thinking.
(3) Knowledge is created in the present moment.
(4) Knowledge belongs to communities.
(5) Knowledge circulates through communities in many ways.
(6) New knowledge is created at the boundaries of old (McDermott, 1999, p. 105).
Steve Lee (2001) summarized the characteristics of knowledge as following:
(1) Knowledge is tacit.
(2) Knowledge is action-oriented.
(3) Knowledge is supported by norm.
(4) Knowledge is changed constantly.
(5) Knowledge is unique.
(6) Knowledge has no substitute.
(7) Knowledge is not imitable.
(8) Knowledge is mobile. (travels with different languages.)
(9) Knowledge is transferable.
(10) Knowledge is replicable.
(11) Knowledge is reusable.
(12) Knowledge is power.
(13) Knowledge is not measurable.
(14) Knowledge is imperfect competition.
(15) Knowledge possesses continuum.
(16) Knowledge possesses extension.
(17) Knowledge is indefinite resource and increases with use.
(18) Knowledge is intangible asset.
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