Intellectual Property Seminar in Indonesia

Originally Published November 8, 2017 on BEKRAF Indonesia. Below is a translated version:

The creative economy (ekraf) actor whose business is intangible has problems in obtaining financing from banks and financing institutions. Intellectual Property (IP) or Intellectual Property Rights (IPR) as the main capital of external actors have not been accepted as collateral for banking financing. The Creative Economy Agency (Bekraf) connects banks, non-bank financing institutions, financial regulators, and creative economic actors at the Intellectual Property Financing Seminar at the Grand Mercure Hotel Jakarta today (11/8).

Bekraf in collaboration with the Indonesian Animation and Creative Industry Association (AINAKI) brought Cheryl Bayer and Rashel Mereness to this seminar. Cheryl Bayer, agency director for creative content Madcow Production, was here to explain the role of IP which could be a guarantee of financing from banks and other financing institutions in the United States. Rashel Mereness, who had served as a legal part in Carsey-Werner Production, informed the contract of financing cooperation agreement with the external actors who used IP as business capital.

"We (Bekraf) deliberately invited the United States foreign industry players to share information related to IP that could be a guarantee that they would access financing from banks and other financing institutions. The hope is that banks, financial institutions and Indonesia's financial regulators will openly make IP as a guarantee as well," said Deputy for Access to Capital Bekraf Fadjar Hutomo.

"We have a gap between industry players and banks and non-banking. IP is the main thing for external actors, "said Chairman of AINAKI Ardian Elkana.

Ardian hopes, Bank Indonesia (BI) and the Financial Services Authority (OJK), which makes policies can translate and implement Law No. 28 Paragraph 16 C in 2014 which states "Copyright can be used as an object of fiduciary guarantee." Thus, banks and financial institutions can move to channel financing with IP as collateral.

Fadjar added, this seminar brought together 100 participants from Indonesian economic, banking, financial institutions, and financial regulators to support each other's development in Indonesia. The participants who came from eco-actors also understood the importance of copyright and patents.

"In the end, regulators, banks, financial institutions, and external actors are more sensitive to IP and can maximize it. So that banks and financial institutions make it easier for external actors to access finance for the development of the Indonesian economy," concluded Fadjar.

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Bekraf Press Release Number: 1 89 / SP / BHKP / BEKRAF / VI I I / 2017

About Bekraf

The Creative Economy Agency (Bekraf) is a non-ministerial government agency responsible for the creative economy. At present, the Head of Bekraf is held by Triawan Munaf.

Bekraf has the task of assisting the President of the Republic of Indonesia in formulating, establishing, coordinating and synchronizing creative economic policies in the fields of application and game developer, architecture, interior design, visual communication design, product design, fashion, animation and video film, photography, craft, culinary, music, publishing, advertising, performing arts, fine arts, and television and radio.

Cheryl BayerCheryl Bayer