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Implementation of IP-Based Financing in Indonesia: Notaries Point of View


Affiliations
1 Law Faculty, Universitas Padjadjaran (UNPAD) Bandung, Indonesia
2 Law Faculty, Universitas Pasundan (UNPAS) Bandung, Indonesia

Despite the huge development of creative industries, 92.37 % of creative industry players in Indonesia are autonomously self-supported and are not supported by any external financing, especially banking credit. Indonesian Government has taken progressive measures through the issuance of Law Number 24 / 2019 on Creative Economy and Government Regulation Number 24 / 2022 on the Implementation of Creative Economy Law to support the Indonesian creative economy businesses by formulating Intellectual Property (IP)–based financing. This study aims to examine the preparatory steps, the procedure of collateral binding and registration that must be carried out by notaries also examine the requirement concerning legal, procedural and technical support in the implementation IP– based financing in Indonesia from notaries perspective. The study shows that several crucial points need to be followed up through synergy and collaboration related to the scope of the notary's role in making authentic deeds for IP-based financing and collateral binding in the form of legal infrastructure, procedural guidelines and technology facilitation in the form of the reliable digital infrastructure that provides comprehensive databases that can carry out the inventorying function, verification, and recording of registered IPs, IP as fiduciary collateral, and IP-based collateral through the synergy of relevant ministries, financial service authority, banking institutions and notaries themselves.

Keywords

Creative Economy, Intellectual Property–Based Financing, Notaries, IP as Credit Collateral
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  • Implementation of IP-Based Financing in Indonesia: Notaries Point of View

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Authors

Ranti Fauza Mayana
Law Faculty, Universitas Padjadjaran (UNPAD) Bandung, Indonesia
Tisni Santika
Law Faculty, Universitas Pasundan (UNPAS) Bandung, Indonesia
Zahra Cintana
Law Faculty, Universitas Padjadjaran (UNPAD) Bandung, Indonesia

Abstract


Despite the huge development of creative industries, 92.37 % of creative industry players in Indonesia are autonomously self-supported and are not supported by any external financing, especially banking credit. Indonesian Government has taken progressive measures through the issuance of Law Number 24 / 2019 on Creative Economy and Government Regulation Number 24 / 2022 on the Implementation of Creative Economy Law to support the Indonesian creative economy businesses by formulating Intellectual Property (IP)–based financing. This study aims to examine the preparatory steps, the procedure of collateral binding and registration that must be carried out by notaries also examine the requirement concerning legal, procedural and technical support in the implementation IP– based financing in Indonesia from notaries perspective. The study shows that several crucial points need to be followed up through synergy and collaboration related to the scope of the notary's role in making authentic deeds for IP-based financing and collateral binding in the form of legal infrastructure, procedural guidelines and technology facilitation in the form of the reliable digital infrastructure that provides comprehensive databases that can carry out the inventorying function, verification, and recording of registered IPs, IP as fiduciary collateral, and IP-based collateral through the synergy of relevant ministries, financial service authority, banking institutions and notaries themselves.

Keywords


Creative Economy, Intellectual Property–Based Financing, Notaries, IP as Credit Collateral