Government of Canada launches Intellectual Property Strategy
“We know IP is a critical ingredient in helping Canadian businesses reach commercial success. Canada’s IP Strategy will make sure Canadians know the value of their intellectual property and how to leverage it to innovate, increase profits and create middle-class jobs.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
“Minister Bains has been a tireless champion of innovative Canadian companies, and I’m delighted that, under his leadership, ISED put in place this most significant pillar for an innovation strategy. Raising sophisticated domestic capacity in IP ensures Canada will improve the commercialization of our ideas globally.”
– Jim Balsillie, former co-CEO of Research in Motion and Chair of the Council of Canadian Innovators
“Minister Bains has followed through on Budget 2017’s commitment to implement practical and important reforms to the Canadian IP system. The IP Strategy will strengthen the position of Canadian innovators to develop made-in-Canada technology and marketing strategies. The investment made in the federal government’s IP Strategy in IP education and standard setting, as well as the revision of Canadian IP laws to create a level and competitive playing field for Canadian firms, delivers on the federal government’s promises to advance innovation in Canada for the benefit of Canadian firms, employees and consumers. The Pilot Patent Collective offers an innovative response to the need to keep patents available to Canadian firms. The pilot is carefully designed, is open to all and allows the market to determine what is valuable. The fact that this is a pilot will allow the community to evaluate results and, if proven successful, to expand on it in future years. I am delighted to see that the federal government is providing support to Indigenous communities to help shape Canadian and international rules around not only the protection of their culture and genetic resources, but in increasing their involvement in the innovation economy in a way that is respectful and protective of their values and culture.”
– Dr. Richard Gold, Professor of Law, McGill University
Small and medium-sized businesses that hold formal IP are:
- three times more likely to engage in product innovation than those without IP,
- two times more likely to engage in other types of innovation,
- four times more likely to export, and
- 64 percent more likely to be high growth.
IP-intensive businesses pay 16 percent more, on average, than businesses with little or no IP.
Businesses using IP in patent-intensive industries have about 8 to 10 times more revenues than those not using IP.
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
Karl W. Sasseville
Office of the Minister of Innovation, Science and Economic Development
Innovation, Science and Economic Development Canada
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