Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Identify and value intangible assets which are key to small business

1.1 Identify intangible assets, which are a key to the ongoing success of the small business, through an intellectual property audit

1.2 Research appropriate sources of information and advice for protecting and effectively exploiting the small business’s intangible assets, and seek professional advice when required

1.3 Value intangible assets so they can be incorporated into the business plan and risk assessment strategy

2 Identify and select types of protection available for intangible assets

2.1 Identify the types of protection for intangible assets, including registered and unregistered protection

2.2 Identify relevant legislative requirements in relation to the proper use and protection of intangible assets

2.3 Calculate the likely costs, risks and benefits of potential types of protection available

2.4 Assess organisational requirements, and balance costs and benefits to select the most appropriate methods to protect and use intangible assets

3 Implement appropriate protection for intangible assets

3.1 Ensure all employees, partners and directors are aware of the importance to the small business of protecting intangible assets

3.2 Implement confidentiality agreements if appropriate with employees and others who might have access to commercially sensitive information

3.3 Search appropriate databases and other resources to determine whether the small business’s intangible assets are original, to avoid infringement of the intangible assets of others

3.4 Follow procedures to protect intangible assets according to the type of protection required, using appropriate intellectual property professionals

3.5 Develop and implement processes for detecting and defending infringements against the small business’s intangible assets

3.6 Monitor the market for possible infringements of protection of intangible assets and take appropriate action if required

4 Develop and implement processes to avoid infringement of the rights of others

4.1 Develop and implement processes so the small business does not infringe on others’ intellectual property rights

4.2 Ensure all employees are aware of and understand the importance of avoiding infringing on others’ intellectual property rights

5 Use and commercialise the small business’s and others’ intangible assets

5.1 Identify options for exploiting and commercialising own intangible assets

5.2 Identify intellectual property of others that can legally be used by the small business for business advantage

5.3 Identify taxation, accounting and financial reporting requirements for any gains made from commercialisation of intangible assets

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.3, 2.1-2.4, 3.2-3.4, 3.6, 5.1- 5.3

• Researches and analyses a complex range of texts including organisational policies and procedures, databases and legislation to ensure full understanding of context and compliance requirements

Writing

1.1-1.3, 2.3, 3.1-3.3, 3.5, 3.6, 4.1, 4.2

• Summarises research findings relevant to small business
• Records and maintains information in accordance with organisational requirements
• Prepares information for the use of others using appropriate terminology and grammatical structure

Oral Communication

1.2, 3.1, 3.2, 3.4, 4.2

• Explains issues and requirements clearly using suitable language and non-verbal features
• Obtains expert advice from others by listening and questioning

Numeracy

1.3, 2.3-2.4, 5.3

• Interprets a variety of numerical information and uses mathematical calculations to determine taxation requirements, cost/benefit analyses and asset valuations

Navigate the world of work

2.2, 2.4, 3.2-3.4, 4.1, 4.2, 5.2, 5.3

• Identifies and complies with legislative requirements associated with own role
• Monitors and reviews organisational policies and procedures in accordance with own role and responsibility

Interact with others

1.2, 3.1, 3.2, 3.4, 4.2

• Selects and applies the appropriate form and mode of communication for a specific purpose and audience
• Collaborates and cooperates with others to achieve joint outcomes

Get the work done

1.1, 1.3, 2.1, 2.2, 2.4, 3.3, 3.5, 3.6, 4.1, 5.1, 5.3

• Uses formal, logical planning processes, and a good understanding of context, to develop processes to protect and use assets
• Uses systematic, analytical processes in complex situations, gathering relevant information and evaluating options for protecting assets
• Selects ideas on the basis of their contribution to the achievement of broader goals
• Uses digital systems and tools to access, extract and organise relevant information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBIPR405 Protect and use intangible assets in small business

BSBIPR405A Protect and use intangible assets in small business

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.