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IP Marketplace as an Innovation for Community Needs

In August 2022, The Directorate General of Intellectual Property (DGIP ) under the Ministry of Law and Human Rights launched the Intellectual Property Marketplace (IP Marketplace).

The IP Marketplace is a platform that is created to respond to the needs of the community in making it easier for IP owners to promote, sell or license their intellectual works or properties to potential investors, both locally and internationally.

The platform also includes a chat channel between potential investors and IP owner to enquire, discuss and negotiate.  Once a transaction is concluded, it will be necessary to lodge a recordal of assignment and/or license of the IP right with DGIP to ensure that parties’ rights are properly recognized.

While this initiative is still at fledgling stage and more needs to be done to increase awareness in the community, there is no doubt that this is a positive step in the right direction given the market size and IP potential in Indonesia.