The Minister of Finance tabled the Government of Canada’s budget earlier today. Titled, The Road to Balance: Creating Jobs and Opportunities, the budget contained a few proposed plans related to intellectual property and the digital economy.
The Economic Action Plan proposes to modernize Canada’s intellectual property framework “to better align it with international practices.” These plans which had previoulsy been announced were described as follows:
Canada’s existing framework for protecting intellectual property is not aligned with international practices, creating unnecessary costs for our innovative businesses. Harmonizing Canada’s intellectual property regime with international norms will help Canada’s innovative businesses access international markets, lower costs and draw foreign investment to Canada by reducing the regulatory burden and red tape faced by businesses.