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

Notary's Point of View

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.