In the 1960s, researchers began their quest for a new role and development path of museums. At present, numerous theories and concepts, particularly from the New Museology trend, refer to the issues of identification, management, and protection of intangible cultural heritage in compliance with the provisions of the 2003 UNESCO Convention. This article aims to contextualize the intangible cultural heritage within the interdisciplinary studies on cultural heritage and to determine the models of presenting and interpreting such heritage in cultural institutions and other dedicated facilities. The analysis was premised on the comparative museology studies and the latest comparative techniques (Legrand 1999) as part of critical cultural & heritage studies. The paper also presents the preliminary results of the qualitative studies carried out in selected cultural institutions in Poland, Bulgaria, and Austria. Final deliberations point out the potential of the intangible cultural heritage as a way of interpreting tangible artifacts in the practice of museums and cultural institutions and show the legal and administrative ways of including the heritage into such institutions' activities. They also serve as a basis for further queries about the mission of museums and the new role of cultural institution personnel.