Intellectual property is essential to business. To support this tenet, the federal government recently announced Canada's first National Intellectual Property Strategy while marking World IP Day. BLG was there, along with a very select group of members of the Canadian intellectual property profession who were invited to attend.
During the announcement, Mr. Navdeep Bains, Minister of Industry, Science and Economic Development, articulated that IP is the most valuable asset in the knowledge economy. The Canadian federal government is intent on making IP a priority, and creating a culture of innovators.
The National IP Strategy is an $85 million investment over 5 years and is built along the following themes:
- IP awareness, education and advice including establishing a dedicated team of IP advisors for government programs, and IP legal clinics offered via law students;
- Strategic IP tools for growth including expedited IP dispute resolution, a pilot project of a patent collective, and leveraging IP in standards-setting; and
- IP legislation including creation of a College of Patent and Trademark Agents, and establishing minimum requirements relating to enforcement.
Some additional details are found on the Innovation, Science and Economic Development Canada website.
We will be closely monitoring developments and will provide updates after further implementation details are announced.
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