A Government Regulation (PP) on the regulation of intellectual property certificates as economic financing with debt collateral was signed by President Joko Widodo on July 12, 2022. The intellectual property that can be used as an object of debt collateral is intellectual property that has been recorded or registered at the ministry that organizes government affairs in the field of law, or that has been managed either independently or transferred its rights to other parties.
PP Number 24 Year 2022
PP No. 24 of 2022 related to the creative economy is a form of added value from intellectual property sourced from human creativity based on cultural heritage, science, and / or technology. Intellectual property rights are the right to economically enjoy the results of intellectual creativity. The objects regulated in Intellectual Property Rights are works that arise or are born due to human intellectual abilities. There are various kinds of intellectual property rights, such as trademarks, copyrights, patents, geographical indications, trade secrets, industrial designs, and integrated circuit layout designs. You need to know that intellectual property certificates are a form of state protection to the property rights of a person, or group so that they are not lost or taken by other people who are not their owners, and utilized for their economic benefits. To support the economic growth that has been extinguished during the COVID-19 pandemic era, new steps and community creativity are needed to keep developing in order to turn the economy back to normal.
Important Articles in Government Regulation Number 24 Year 2022
In order for KH friends to have a further understanding, let’s look at the important articles in PP No. 24 of 2022, as follows: Article 2 describes the financing of the creative economy, which includes:
- Creative Economy Financing.
- Facilitation of the development of Intellectual Property-based Creative Economy Product Marketing System.
- Creative Economy Infrastructure.
- Incentives for Creative Economy Actors.
- The responsibilities of the Government and/or Regional Government and the role of the community in the development of the Creative Economy, and
- Financing dispute resolution,
It is stated in the next article that the source of financing for the Creative Economy comes from the APBN, APBD, and or other legal sources. Intellectual Property-based financing schemes are regulated in Article 4, the provisions of which are:
- The government facilitates Intellectual Property-based Financing Schemes through bank and non-bank financial institutions for Creative Economy Actors.
- Facilitation of Intellectual Property-based Financing Schemes for Creative Economy Actors is carried out through:
- Utilization of Intellectual Property with economic value
- Intellectual Property Assessment
Article 5 concerning facilitation of the utilization of Intellectual Property with economic value as referred to in Article 4 letter a, are:
- Facilitation in the process of application for registration or registration of Intellectual Property in accordance with the provisions of laws and regulations in the field of intellectual property, and
- Optimizing the utilization of Intellectual Property as an object of debt collateral.
Article 7 outlines Intellectual Property-based financing, which can be submitted by Creative Economy Actors to bank financial institutions or financial institutions. There are submission requirements consisting of at least a financing proposal, having a creative economy business, having an agreement related to the intellectual property of creative economy products, and having a registration letter or intellectual property certificate. Furthermore, bank and non-bank financial institutions in providing Intellectual Property-based financing can do the following:
- Verification of Creative Economy businesses.
- Verification of Intellectual Property registration or certification letters used as collateral that can be executed in the event of a dispute or non-dispute.
- Valuation of Intellectual Property that is used as collateral.
- Funding search to Creative Economy Actors, and
- Receipt of return of Financing from Creative Economy Actors in accordance with the agreement.
Article 9 and Article 10 regulate Intellectual Property that becomes the object of debt collateral, here are the details: Article 9
- In the implementation of Intellectual Property-based Financing Schemes, bank financial institutions and non-bank financial institutions use Intellectual Property as an object of debt collateral.
- The object of debt guarantee as referred to in paragraph (1) shall be implemented in the form of:
- Fiduciary guarantee of Intellectual Property.
- Contracts in Creative Economy activities, and or.
- Collection rights in Creative Economy activities.
Article 10 Intellectual Property that can be used as an object of debt collateral, is in the form of:
- Intellectual Property that has been recorded or registered at the Ministry and organizes government affairs in the field of law, and
- Intellectual Property that has been managed either by itself and or transferred its rights to other parties.
Thus the discussion related to Intellectual Property certification that can be used as a business guarantee by Creative Economy Actors in Indonesia. The requirements to the mechanism are listed in the articles in PP No. 24 of 2022.
KH Contact
KH friends, if you still have questions about Intellectual Property Rights (IPR) do not hesitate to contact us immediately, Kontrak Hukum. We provide legal services in the form of checking and registering brands, copyrights, and also industrial designs. KH friends, you can go directly to the page https://kontrakhukum.com/kekayaan-intelektual/ to see IPR services and other services from Kontrak Hukum. Or, you can contact Kontrak Hukum via the following link Tanya KH, and for more information please visit our website at https://kontrakhukum.com/, or send a Direct Message (DM) to our Instagram social media account @kontrakhukum.
