The rising share of intangibles in global economy highlights the crucial role of innovative, knowledge-intensive businesses. Creative industries, which produce software, games, movies and music, seem to disperse globally their value chains to leverage capabilities that appear to be specific to certain regions of the globe. These industries take advantage of very strong cluster effects, as exemplified by creative centers such as Hollywood, Hong Kong and Mumbai (film industry), New York and London (media business), the France: Cosmetics, Italy (clothing, style and fashion segments) and Silicon Valley (internet, technology companies and venture capital). Cluster effects enhance competitive advantage of firms by dispersing their creative endeavors, tapping into multiple centers of excellence and coordinating knowledge across geographic space. Therefore, geographical dispersion of value creation has an important role in the analysis of creative industries, which need to understand ...