The Civil Law Division of the Faculty of Law, Diponegoro University, held a webinar on Saturday (22/10/2022). The title of the academic activity is “The Challenge of Intellectual Property Guarantee in Financial Institutions in Indonesia.” Professor of UNAIR Law Prof. Rahmi Jened was invited as a resource person at the webinar to provide a basic understanding of the allowability of Intellectual Property Rights (IPR) as objects of debt guarantees after the signing of PP 24/2022.
Prof. Rahmi explained that IPR is divided into two types. First is copyright and copyright-related rights. An example is a right to create books and songs, and the related rights are attached to publishers and broadcasting organizations. The second type is industrial property rights, such as patents, plant variety rights, trademarks, and trade secrets. Prof. Rahmi added that the fundamental nature of IPR is its exclusivity to the rights holder.
“The manifestation of the exclusive rights of intellectual property rights is the emergence of economic and moral rights for rights owners. Economic rights are that the owner can be the only party who gets financial benefits from these rights. Moral rights mean that IPR is eternally attached to the owner. The owner can also defend his rights if a distortion of his creation is detrimental to his honor or reputation,” said the UNAIR alumni.
The use of IPR as an object of debt guarantee certainly raises several legal questions. First is how IPR is valued or estimated at its price. Prof. Rahmi said that the valuation approach could be simple by only looking at the economic value and level of income generated by this right or by using a market approach. Alternatively, valuation can also use a modern system that looks at costs and benefits, macro and microeconomics, to expert opinion.
“The second question is how the financing scheme will be. Intellectual property-based financing schemes are financing schemes that make the intellectual property the object of debt guarantees for bank financial institutions or non-bank financial institutions to provide financing to creative economy actors,” said the academic.
Prof. Rahmi explained that the financing scheme in intellectual property rests on the Fiduciary Law and the Constitutional Court Decision Number 71/PUU-XIX/2021. Meanwhile, financing schemes in Non-Bank Financial Institutions (LKBB) must follow the 5C principle (character, capacity, capital, collateral, and condition
