This unit describes the skills and knowledge required to undertake the fundamentals of product/idea commercialisation. It describes the process from conception to launch to full production.

Competency requires developing the skills and knowledge to successfully research, analyse, cost and develop a business opportunity for a product/idea. This unit also describes the skills required to manage commercialisation and evaluate product success.

This unit applies to leaders or managers responsible for developing a commercialisation strategy for an innovative product or technique, which has been developed through research.

Leaders undertaking product commercialisation must investigate and negotiate the legal and partnership implications of commercialisation, undertake market testing and develop commercialisation strategies.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.