Insights
Indonesia plans a new commercial law to boost foreign investment called the Omnibus law on Job Creation. Backed by the President, the final draft bill consists of 79 laws, 15 chapters, and 174 articles as confirmed by the head of Parliament, Puan Maharani when she received the copy of the final draft bill yesterday.
It contains one IP provision that Art 20 of Patent Law is revoked. This will bring an end to the endless debate about whether or not a patent can be revoked if it is not used in Indonesia. See here for the previous details and debate. All the subsidiary legislation and procedures will also fall away. Tech companies will be pleased about the removal of this uncertainty.
