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 the organisation’s intellectual property assets and rights

1.1 Identify the intangible assets residing within the organisation and how they can be protected

1.2 Identify the sections of the organisation in which intellectual property is created, procured or transferred and for which management is required

1.3 Research intellectual property rights appropriate to the organisation according to legislative requirements

1.4 Identify and access sources of information and advice for protection of the organisation’s intellectual property

1.5 Conduct a cost-benefit analysis of protecting intellectual property and determine risks

1.6 Identify and use appropriate intellectual property professionals to initiate processes to protect intellectual property, according to the type of intellectual property protection required

2 Create a strategy to manage the organisation’s intellectual property

2.1 Review or create an organisational strategy and review or develop policies and procedures for protection, management and use of intellectual property as part of the organisation’s business strategy

2.2 Plan and implement an intellectual property audit and establish or review the value and use of the organisation’s intangible assets inventory

2.3 Plan and make recommendations for implementation of a strategy for business growth through use of organisation’s intellectual property

2.4 Plan and implement strategies to ensure employees, partners and contractors protect the organisation’s and others’ intangible assets

2.5 Establish or review procedures to securely record and store documentation related to the organisation’s intangible assets

3 Monitor and maintain organisational strategies for the protection and use of intellectual property

3.1 Regularly monitor and review strategies, policies and procedures for the identification, protection and use of intellectual property to ensure they are working effectively and make changes if required

3.2 Manage the identification of potential infringement of organisation’s intellectual property rights and ensure appropriate action is taken

3.3 Promote a culture of compliance and respect for the intellectual property rights other organisations and individuals

4 Manage the commercialisation of the organisation’s intellectual property to ensure business growth

4.1 Research the role intellectual property will play in the strategic plans of the organisation

4.2 Contribute to the implementation of the commercialisation of the organisation’s intellectual property

4.3 Manage the review of the activities of existing or potential competitors and assess their impact on the organisation’s intangible assets

4.4 Access and effectively use others’ intellectual property within legal guidelines for business advantage

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.5, 2.1-2.5, 3.1-3.2, 4.1, 4.3, 4.4

• Identifies and analyses complex texts to determine legislative, regulatory and business requirements
• Reviews, evaluates, interprets and applies content from a range of sources to aid in managing intellectual property

Writing

1.1-1.5, 2.1-2.5, 3.1-3.2, 4.1, 4.3

• Records and summarises information in accordance with organisational or regulatory requirements
• Composes and edits texts, selecting appropriate vocabulary, structure and format for audience and purpose
• Prepares correspondence and documentation according to organisational formats and protocols

Oral Communication

1.4, 1.6

• Explains issues and requirements clearly and obtains information from others by listening and questioning

Numeracy

1.5, 2.2

• Analyses numerical information to measure costs versus benefits
• Estimates, calculates and records value of assets

Navigate the world of work

1.3, 2.1, 2.4, 2.5, 3.1, 4.1, 4.4

• Modifies or develops strategies, policies and procedures to comply with legislative requirements and organisation goals
• Understands and applies knowledge of legislative and regulatory requirements in the conduct of own work

Interact with others

1.4, 1.6, 3.3, 4.2, 4.3

• Selects and uses appropriate communication practices and conventions for the purpose and audience
• Collaborates with others to achieve joint outcomes

Get the work done

1.1-1.5, 2.1-2.5, 3.1, 3.2, 4.1-4.4

• Takes responsibility for planning, organising, implementing and reviewing systems and processes that could have legal implications
• Systematically gathers and analyses relevant information and evaluates options to make decisions about intellectual property compliance issues
• Uses a range of digital technologies to access, analyse, organise, present and share information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBIPR501 Manage intellectual property to protect and grow business

BSBIPR501A Manage intellectual property to protect and grow business

Updated to meet Standards for Training Packages

Minor edits to clarify the intent of Performance Criteria

Equivalent unit

Release 

Comments 

Release 1

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