Every April 26, we celebrate World Intellectual Property (IP) Day to recognize the role intellectual property rights play in our economy by cultivating creativity and innovation. From smartphones to lifesaving medicines, intellectual property is a vital cornerstone for fostering growth within an economy, which is why it is imperative to bolster IP by protecting it through legislation.
One of the ways we are celebrating World IP Day this year is by issuing a letter to members of the Canadian, U.S. and Mexican governments to express our support for a robust and high-standard IP chapter in the modernized NAFTA agreement.
As negotiations continue, it is imminent the updated NAFTA agreement include 21st century protections for creative and innovative industries across North America. This will help encourage high-risk, high-capital investments in the next generation of technological and medicinal breakthroughs.
Updating the IP chapter in the modernized NAFTA agreement would make North America one of the world’s most innovative and creative trading blocs, fostering economic prosperity for all three participating countries. We must continue to support business growth through strong modern laws.
Click here to read the letter.
This World IP Day, we are also pleased with the Government of Canada’s IP Strategy, which was released today. Some of the measures address what we asked of the Government, including education programs, initiatives to engage Indigenous peoples, tools to support business growth and amendments to the Patent Act.