Islamic Law Aspect on in Valuation and Execution Intellectual Property (IP) Asset as Bank Collateral in Creative Economy
Abstract
One of the issues faced by many creative economy actors in this relatively newly established industry is the lack of supporting infrastructure, such as the limited access to financing and one of the prominent issues is banks’ reluctance to accept intellectual property (“IP”) as collateral to secure loans including problems concerning valuation of IP Asset as Collateral which has implications several regulation concerning Intellectual Property. In the spirit of furthering the creative economy, the Government has recently issued Government Regulation Number 24 of 2022 on Intellectual Property-Based Creative Economy Financing. This matters includes in relation with IP assets that are exposed and exploited their product (goods or services) on the basis of exclusivity in financing and loan contractual scheme as collateral. This article normative legal research in which intended for studies that are literary and practical works which is Intellectual Property (IR) system in relation with valuation and execution as bank collateral either Indonesia prevailing law and Islamic (Syariah) Law. The result of this research that IP owners often deal with complex contractual relationships that involve different forms of cooperation in research, production or commercialization. most important aspect concerning capacity and competency with comprehensive knowledge deal with IP Asset as Collateral before Banks, and others financial institution, execution of guarantees as applied to Islamic banking has adopted many syariah law, in the practice, there are still many problems the implementation of guarantees as applied to Islamic banking has adopted many Islamic laws. However, in the practice, there are still many problems that arise from the Islamic law scope the concept of justice and the philosophy of maslahah.
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2. Statutory Regulations
Law No. 30 of 1999 concerning Arbitration and Alternative Dispute Resolution;.
Law No. 42 of 1999 concerning Fiduciary Guarantee.
Law No. 29 of 2000 concerning Plant Varieties;.
Law No. 30 of 2000 concerning Trade Secrets;.
Law No. 31 of 2000 concerning Industrial Design;.
Law No. 28 of 2014 concerning Copyright and Related Rights;.
Law No. 13 of 2016 concerning Patents;.
Law No. 20 of 2016 concerning Trademarks and Geographical Indications;.
Law No. 19 of 2022 concerning Creative Economy;.
Government Regulation No. 24 of 2022 concerning Implementation; Law No. 19 of 2022 concerning Creative Economy;.
Government Regulation Number 2 of 2005 concerning Intellectual Property Rights Attorneys,.
Government Regulation No. 42 of 2007 concerning Franchising.
Government Regulation No. 36 of 2018 concerning Recording of Intellectual Property Rights License Agreements.
Ministerial Regulation No. 39 of 2018 concerning Granting of Compulsory Patent Licenses.
Other related legislation.
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