There is no unique approach to the definition of the intellectual capital investments. The definition of intellectual capital investments depends on the aim of study or practical implementation. Researchers define the investments as a different kind of expenditures according to the intellectual capital components. The development of the concept of the intellectual capital investments consists of four stages: 1) changes in resource view approach; 2) development of the definition of the intellectual capital and the determination of the components of the intellectual capital; 3) the intellectual capital measurement methods creation; 4) the definition of intellectual capital investments development.