YouTube Content Becomes Debt Guarantee To Financial Institutions, DJKI: Not All, Only Certified

Photo: VOI/Mary Handayani

JAKARTA - Creative content on the YouTube platform can now be used as collateral for debts to financial institutions after President Joko Widodo (Jokowi) issued Government Regulation (PP) Number 24 of 2022 concerning the Creative Economy.

In response to this, the Directorate General of Intellectual Property (DJKI) of the Ministry of Law and Human Rights revealed that not all YouTube content can be used as collateral or guarantees for loans from financial institutions, both banks and non-banks.

The Acting Director General of Intellectual Property, Razilu, said that creative business actors need to meet the applicable requirements to be able to use YouTube content as collateral. One of them has an intellectual property certificate (KI).

"The point is that creative economy actors must have a certificate (KI). If YouTube content does not have a certificate, then based on this scheme it will be a problem, because the main requirement must be verified by a guarantor institution or financial institution," he said at a press conference at the Ministry of Law and Justice Building. HAM, Jakarta, Tuesday 26 July.

Therefore, said Razilu, creative content actors must first obtain an intellectual property certificate as the main requirement.

"Creative economic actors in order to be respected and get state support must be diligent to DJKI to get a certificate," he said.

In the DJKI mechanism, another requirement that must be met is to have a creative economy business financing proposal that has an engagement related to creative economy intellectual property.

Razilu said, then the bank and non-bank financial institutions will carry out several stages of verification of businesses and letters or certificates of KI belonging to creative economy actors and will provide an assessment of KI that will be used as collateral.

"Later on, the lender will determine the 'value' of intellectual property. The higher the 'value' and the economic potential of the copyrighted works or patents owned, the higher the loan value will be," he said.

Razilu said that a leg that can be used as an object of debt guarantee must meet two conditions. First, the KI has been registered or registered with the DJKI of the Ministry of Law and Human Rights. The two IP products that have been managed properly independently or have transferred their rights to other parties.

Furthermore, Razilu said that intellectual property that has been managed means intellectual property that has been commercialized by the owner himself or another party based on an agreement. This is as stated in Article 10 letter b.

"With the design and development of KI-based financing schemes and the marketing system of KI-based creative economy products, it is hoped that it can stimulate the development of the creative economy ecosystem in Indonesia," he said.