For many years, the idea of realizing intellectual property (“IP”) as an ‘asset’ to generate ‘actual money’ in Indonesia existed more as a legislative promise than a practical reality. When the Government enacted the Creative Economy Law (Law No. 24 of 2019) and later issued Government Regulation / PP No. 24 of 2022 on the Implementing Regulation of the Creative Economy Law (“PP 24/2022”), the framework on paper appeared ambitious and progressive. It encouraged businesses that registered and commercially exploited their IP to use these intangible assets as a basis for formal financing, giving businesses the opportunity to leverage intangible assets for capital access.
In practice, however, despite this enabling regulation, banks and non-bank financial institutions remained hesitant, and the ecosystem struggled to move beyond legal regulations. The issue was not a lack of regulation but the absence of practical mechanisms necessary for implementation. IP valuation lacked recognized standards, there were no certified appraisers existed, and there was no secondary market, no liquid or credible marketplace where IP could be sold, transferred, or monetized if a debtor defaulted. Without these foundations, IP remained only an ‘asset’ in name, but not yet an ‘asset convertible into cash’. The risks for bank and non-bank financial institutions were therefore substantial, not just because of their unwillingness, but because the supporting infrastructure and ecosystem had not yet been built.
These concerns were highlighted in earlier policy analyses, which noted that despite the novelty and ambition of implementing regulations such as PP 24/2022, Indonesia still lacked the supporting infrastructure required to make IP-based financing workable. Banks and non-bank financial institutions had no reliable method to assess the value of intangible assets, no certified professionals capable of performing such assessments, and even if they were willing to rely on valuations, they lacked a clear and legally practical exit channel for collateral execution. In other words, the regulations indeed existed, but the ecosystem did not.
This long-standing obstacle has now begun to be addressed through two major developments that have recently emerged. The first breakthrough came with the issuance of the Minister of Tourism and Creative Economy/Head of the Creative Economy Agency Regulation No. 6 of 2025 on Intellectual Property Valuation (“PermenEkraf 6/2025”), which fundamentally transforms the IP valuation landscape from uncertainty into clarity. For the first time, Indonesia has a formal regime governing Penilai Kekayaan Intelektual (IP Appraisers), complete with competency standards, licensing requirements, ethical obligations, supervisory mechanisms, and recognized valuation methodologies. IP assets can now be valued through standardized cost, market, income, or other accepted approaches applied by certified appraisers who are formally registered and subject to regulatory oversight. PermenEkraf 6/2025 therefore resolves the single most critical barrier that had prevented PP 24/2022 from functioning as intended: the absence of a credible and dependable valuation infrastructure.
The second breakthrough arises from the Directorate General of Intellectual Property (DGIP), which launched the IP Marketplace (https://marketplace.dgip.go.id/), a digital platform specifically designed by DGIP to facilitate the commercialization of IP assets between individuals and/or private parties. Its most significant contribution is the creation of a secondary market for IP rights. Through the IP Marketplace, IP rights can be transferred, sold, or monetized, including in situations where the IP rights holder intends to sell off their IP rights Do note, however, since Article 9 paragraph (2) of PP No. 24/2022 stipulates that IP rights used as collateral fall under a fiduciary guarantee, which requires any execution of such collateral to be conducted through an auction at the State Assets and Auction Service Office (KPKNL). As of now, the KPKNL has not yet accepted IP as an auctionable object, consequently the question of how IP collateral should be executed remains unresolved. Nevertheless, the establishment of the IP Marketplace represents a meaningful progress in positioning IP as a commercialized asset for businesses. Although execution challenges remain, the platform provides greater visibility and accessibility, allowing the public to view available IP assets and observe the market interest. This added transparency can benefit IP rights holders who wish to voluntarily dispose of their IP rights, while also contributing to the broader development of the IP-based financing ecosystem.
Indonesia has long aspired to develop the creative economy as one of the primary engines of national growth. The convergence of two major momentum points: professionalized valuation under PermenEkraf 6/2025 and the establishment of a genuine secondary market through the IP Marketplace marks a decisive turning point in realizing that aspiration. What was once a promising but largely impractical financing regime is now one step closer in realizing the structural foundations necessary for real-world implementation. Intellectual property no longer stands merely as a passive intangible asset but now it has become an asset that can be valued, commercialized, and confidently utilized as a financing tool to support businesses. With these advancements, creative enterprises are no longer restricted to traditional forms of collateral such as physical assets or cash flows only, but they can now access financing based on the strength and monetization potential of the IP rights they own and/or hold, to generate capital and financing. With these two new regulations, it remains to be seen whether, in practice, it can alter the perspective of stakeholders on IP’s value as collateral.
