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Legislation

Forthcoming national IP strategy needs incentives to spur Canadian growth

By Adam Kingsley      

Liberals should heed the Finance Committee’s recommendations for Budget 2018 to ensure Canada doesn’t lag further behind its international counterparts in innovation.

When Innovation Minister Navdeep Bains announces details of the promised intellectual property strategy, it should include financial incentives to get Canadian businesses to develop and commercialize IP at home, writes Adam Kingsley. The Hill Times photograph by Andrew Meade

It is well established, both in Canada and abroad, that all forms of intellectual property (patents, trademarks, copyright, industrial designs, trade secrets, etc.) are important to business scalability and sustainability. However, for many years Canada has been lagging behind other jurisdictions in taking advantage of this knowledge by failing to establish policy incentives for developing and commercializing our IP. Canada also lags behind its major trading partners in developing IP awareness and education programs for improving the IP savviness of business owners and future leaders. This has led to Canada’s rank dropping for several years running in various important indicator areas of the Global Innovation Index.

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