The future challenges on economic value of intellectual property on geographical indication products in the era of globalization

Abstract

When a product, handicraft or agricultural product, which has distinctive characteristics, and can be distinguished from products from other regions, which is influenced by geographical factors and human factors, then the product can be categorized as a geographical indication product. The benefits of geographical indications are believed to have a positive impact, especially in terms of economic and social aspects. Socially, geographical indications are able to develop local communities. Economically, geographical indications are able to provide welfare for local communities. This article is the result of research using normative juridical research. This type of research is qualitative research. The data collected in this study consisted of primary data and secondary data. Primary data is primary legal material, namely in the form of norms or basic rules and legal doctrines and laws and regulations related to the research theme. Secondary legal materials are books related to the research theme in the form of research results, reports, articles in the mass media and the internet, seminar results, or other scientific meetings relevant to this research. The purpose of this study is to analyze the potential economic value of geographically indicated products and to analyze the strategies adopted to increase the economic value of geographically indicated products in order to be able to provide welfare for local communities. This article will discuss the analysis of the existing economic value of geographical indication products and appropriate strategies to increase the economic value of geographical indication products. Not all geographical indication products are able to provide economic value that can directly generate prosperity for local communities. There needs to be a strategy that is carried out, not only by the people who own geographical indication products, but also the Indonesian government and various other related parties, such as academics and business actors.