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Jakarta Post

Creative firms can soon use patent rights as loan collateral

  • Rachmadea Aisyah

    The Jakarta Post

JAKARTA   /   Tue, April 9, 2019   /  12:37 pm
The Jakarta Post Image
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)

The 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 o...