Bali, Oct. 8 -- Indonesia has submitted a proposal to the World Intellectual Property Organization (WIPO) advocating for global royalty standards to establish a fairer, more transparent and accountable ecosystem for content creators worldwide.

Law Minister Supratman Andi Agtas stated in Bali, Wednesday (October 7), that the proposal aims to transition royalty negotiations away from purely private corporate agreements toward defined international parameters.

"We hope WIPO will adopt a standard, because currently, negotiations are purely contractual - business-to-business (B2B) - and that is how it operates. Moving forward, we want there to be defined parameters for royalty increases - parameters that can be regulated by WIPO," Supratman ...