- In order to support the development of Indonesia’s creative economy and industries, the Directorate-General of Intellectual Property at the Ministry of Law and Human Rights and the Ministry of Tourism and Creative Economy are currently promoting a financing scheme through which intellectual property will be able to be used as guarantees for the granting of credit and financing facilities.
- The financing scheme in question has already been introduced through the issuance of several regulations, however, businesses operating within the financial service sector remain unfamiliar with its overall concept, meaning that implementation has not been optimal in practice. Indeed, the Head of the Legal Department at the Financial Services Authority, Rizal Ramdhani, stated recently that banks have not been able to accept intellectual property as an encumbrance object as a result of various factors, specifically valuation and risk management.
- In order to improve this situation, the Deputy Head of Intellectual Property Rights and Regulation, Ari Juliano Gema, has revealed that an official Regulation of the Government is currently being prepared which will set out a financing scheme based on intellectual property encumbrance. In addition, Mr. Ari has also stated that the government is currently in the process of establishing certification standards for intellectual property rights appraisers in order to ensure the improved valuation of any intellectual property rights which are to be used as encumbrance objects.
- Along with regulation and standardization, Mr. Ari has also stressed the importance of the intellectual property market. According to Mr. Ari, this market creates an important reference for the valuation of intellectual property rights. Furthermore, in the event of any default, this market can provide solutions for creditors holding intellectual property rights as guarantee objects, who are able to minimize their losses by selling guarantee objects through this market.
- For more on this story, see: “Problem Valuasi Masih Menghambat Kekayaan Intelektual Dijadikan Jaminan Fidusia”.
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