Unit of competency Outline

Date retreived
23/07/2026 11:16 PM AWST

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Protect and use intangible assets in small business

Protect and use intangible assets in small business

Unit of competency
National Code
BSBIPR405
State Code
AUJ46
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
090999 - Law, N.e.c.
Original Release Date
15/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to effectively protect and exploit the intellectual property of a small business. It focuses on identifying and valuing intangible assets, implementing measures to protect and commercialise these assets, as well avoiding the infringement of others’ intellectual property rights.It applies to individuals who either operate a small business or who are investigating the establishment of a small business. It particularly applies to small businesses that have intangible assets with market value which require protection, and which can be used to improve business performance.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
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
No information
No information
Replaces
State Code National Code Title Type
D2785 BSBIPR405A Protect and use intangible assets in small business Unit of competency
Replaced By
State Code National Code Title Type
OCG32 BSBESB402 Establish legal and risk management requirements of new business ventures Unit of competency