YouTube movies could now be used as collateral for loans, as Indonesia additional acknowledges the fiscal worth of mental property rights because of a latest regulation replace.
Earlier this month, President Joko Widodo signed Authorities Regulation (PP) 24/2022 on Artistic Financial system, permitting for mental property for use as collateral for monetary loans, through a financial institution or in any other case.
Immediately, Legislation and Human Rights Minister Yasonna Laoly shed extra perception into the PP, saying that even YouTube movies could fall into this class.
“So if one already owns an mental property certificates, or model, or artistic license, together with for music, they’ll add [that content] to YouTube. As soon as [the video] features hundreds of thousands of views, the license has financial worth. If the license holder wants cash, the content material can be utilized as collateral on the financial institution,” Yasonna said.
“The monetary establishment will then appraise the mental property.”
In Indonesia, copyrights and logos are registered with the Mental Property Directorate Normal, which operates underneath the Ministry of Legislation and Human Rights.
Consciousness of mental property rights in Indonesia is arguably missing, as evidenced by rampant content material piracy within the nation. As such, Indonesia’s most distinguished figures within the arts and leisure scene have largely welcomed the brand new regulation, arguing that their works are lastly getting the popularity they deserve.