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Creative firms can soon use patent rights as loan collateral
Bekraf has so far helped 5,671 MSMEs obtain patent rights and business permits at the Law and Human Rights Ministry.
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Finance Minister Sri Mulyani and head of the Creative Economy Agency (Bekraf) Triawan Munaf look at artwork at Art Bali. (Courtesy of Art Bali/File)
T
he government is planning to issue a new law for the creative economy sector that will allow holders of patent rights to use their patent certificates as loan collateral.
The move is expected to help micro, small and medium enterprises (MSMEs) secure loans for their businesses even if they do not have physical assets, Creative Economy Agency (Bekraf) head Triawan Munaf said.
Securing patents has been an issue for the creative sector, which mainly consists of MSMEs. Bekraf's latest data show there are 8.2 million creative MSMEs in the country, but only 11 percent of them have obtained patent rights.
"One of the things we are working on right now is to make way for business financing based on [a debtor's] patent rights so it will be easier for creative businesses without physical assets to access financing," Triawan told reporters on the sidelines of a seminar on Monday.
The policy, he said, could encourage MSMEs to apply for a patent right and thus protect the authenticity of creative economy-based products, such as clothing, crafts and furniture, which have been largely traded without their own patent rights.
He said policymakers had only begun to address intellectual property issues more seriously since 2016. Since then, Bekraf has helped 5,671 MSMEs obtain patent rights and business permits at the Law and Human Rights Ministry.
However, the Bekraf deputy chairman for intellectual property rights facilitation and regulation, Ari Juliano Gema, said out of the 5,671 businesses, the Law and Human Rights Ministry had only granted patent rights for around 1,000 of them.
