The paper considers particular features of the definition of the concept of «knowledge» in a knowledge-based society. It is shown that in a knowledge- based society certain paradoxes emerge in the sphere of education, which require a reassessment of the goals and tasks of universities. The authors introduce the concept of an «intellectual enterprise», that is, of a skill allowing one to develop a competitive advantage in a knowledge-based society. Ways to acquire this skill are given, and the goals of a modern university as a social institution are formulated.