Intellectual property becomes foundation of creative economy: Minister

Intellectual property becomes foundation of creative economy: Minister

Minister of Law and Human Rights Yasonna Laoly. ANTARA / HO-Ministry of Law and Human Rights

Jakarta (ANTARA) - Law and Human Rights Minister Yasonna Laoly believes intellectual property has a crucial role as the foundation of creative economy that is expected to boost the national economy.

The minister conveyed the statement during a virtual public lecture session at the peak of the University of Indonesia's Intellectual Property Week, Friday.

"Intellectual property has a very important position in the new era of the Industrial Revolution 4.0. Intellectual property, as the foundation of the creative economy, is expected to offer a competitive advantage and simultaneously drive the national economy," he stated.

Yasonna believes that rapid developments in creative economy must be accompanied by heightened awareness of intellectual property. According to the minister, intellectual property can offer added value to creative economy products.

"For that, of course, it requires special attention and high commitment in developing and advancing the creative economy of all stakeholders, ranging from business actors and academics to the government," he noted.

Related news: Bekraf plans to join the intellectual property cooperation area

According to Yasonna, one of the crucial roles of intellectual property for creative economy products is related to intellectual property-based financing. This scheme is part of the government's endeavors to increase the impact of intellectual property on the people's welfare.

The minister is optimistic that intellectual property-based financing would increase the creative economy actors’ access to financing in developing businesses.

"In addition, it is expected to increase public awareness of the importance of creativity and intellectual property rights as well as protection and utilization of intellectual property for creative economy endeavors," the minister remarked.

Related news: Law ministry settles 32 cases of intellectual property rights violation

The University of Indonesia Intellectual Property Week will be held on November 23-27, 2020.

Apart from several webinars featuring experts and researchers in the field of intellectual property, this activity was closed with a symbolic handover of the University of Indonesia's Intellectual Property Rights certificate.

Yasonna is optimistic that the symbolic handover of the 4,000th intellectual property rights certificate to inventors and creators from the University of Indonesia would bind the commitment between the government and the academic community that advancing innovation and state welfare is a shared responsibility of all Indonesians.

"The progress of a nation is very positively correlated to innovations and the registration of intellectual property in the country. The cooperation between the think tanks of the campus and the industrial world will produce innovative breakthroughs," the minister affirmed. (INE)

Related news: Researcher calls for better protection of intellectual property rights