Mechanism Of Economic Value Determination Of Music And Song copyrights Made As Objects Of Fiduciary Collateral

Nurwati, nurwati and Sulistiyono, Adi and Roestamy, Martin (2019) Mechanism Of Economic Value Determination Of Music And Song copyrights Made As Objects Of Fiduciary Collateral. INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH, 8 (9). ISSN 2277-8616

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Abstract

Copyright as object of fiduciary collateral is listed in Law Number 28 Year 2014. It is explained in this law that movable intangible property can be used as collateral object. However, for certain a circle, this matter, particularly the one related to assessment mechanism and attachment of collateral, is still debatable. Creative economy or commonly called creative industry has been seen as an important sector in the development of Indonesian economic. Creative industry refers to a type of industry which utilizes individual creativity, skill, and talent to create prosperity and work opportunity by producing and exploiting individual’s creative power. It is undeniable that, in practice, intellectual property right gives protection to creative industry. In song creation process, song writers need to cooperate with production houses or recording companies in order to disseminate and reproduce their creations. In this cooperation, musicians can give a license to a production house or a recording company to disseminate and/or reproduce the songs they create. In return, the song writer or copyright holder has the right to receive royalties over the dissemination or reproduction of their creations from the other party/license holder. A copyright is an exclusive right consisting of an economic right. Economic right is a right to get economic benefits over the creation and products of the related right. These economic benefits can be obtained when the copyright holder gives the right to the third party to use it with commercial objectives based on an agreement or license. A normative juridical method through regulation approach was applied in this study. the specification of this study was a descriptive analysis describing the relationship between Das Sollen variable (copyright as a movable property collateral) and Das Sein (development of receiver fiduciary object). An analysis by using legal principles, interpretation, and construction was then conducted.

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