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Opinion

Canada needs IP incentives to be globally competitive

By Adam Kingsley      

Incentives for companies to protect intellectual property, and bring innovations to market, are critical to helping Canada realize its competitive potential.

To the credit of Innovation Minister Navdeep Bains, he recognizes that intellectual property is at the foundation of Canada’s potential for economic growth, writes Adam Kingsley. The Hill Times photograph by Andrew Meade

In its 2019 pre-budget consultations, the federal government’s House Finance Committee wanted to focus on ensuring Canada’s competitiveness on the global stage. Improving Canada’s business and economic competitiveness is key to the work of the Intellectual Property Institute of Canada (IPIC), the association that represents patent agents, trademark agents, and lawyers practising in IP law across the country. IPIC has long recognized that Canada, a nation that generates numerous inventions and innovations, does not sufficiently protect and commercialize its intellectual property, such as patents, trademarks, designs, copyright, and more. Not doing so comes at a significant cost to Canada’s economic competitiveness.

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