Message from IAC's Founders
Happy New Year!
We would like to take this opportunity to welcome new and potential members. Innovation Asset Collective has been a joint effort with countless support and input from various partners in the public and private sectors. We would like to express our sincere thanks for all this support without which the IAC’s important work would not be possible. IAC now has the exciting opportunity to help change the landscape of innovation in Canada by championing IP and data within the cleantech sector.
2021 is looking bright
2020 provided us with new opportunities to further develop innovative ways to deal with the new realities facing our businesses and our planet. As we look to the year ahead, 2021 is looking bright for firms continuing to invest in IP.
Here are four reasons why you should introduce or keep IP as a central component of your business strategy as we begin 2021:
- Intangible assets are still on the rise: Investments in intangible assets are outpacing tangibles in markets such as Japan, China and India. Even US-based tech giants GAFA (Google, Apple, Facebook and Amazon) continue to focus on IP to help fuel their growth. Going forward, it is essential that companies continue to invest in and integrate IP considerations and protections into their business strategies. There can be no doubt that those that invest in their intangible assets will be in a more competitive position than those who delay or defer IP investments.
- Growth through (IP) partnerships will generate stronger outcomes: With the impact of the pandemic, companies have increasingly looked for alternate ways to pool resources for stronger commercial outcomes, including IP collaborations. Greater openness to collaboration has already generated promising COVID-19 vaccines, and with the launch of Explore IP, Canada’s IP Marketplace, it is now easier to identify possible licensing and collaboration opportunities with public sector patent holders in Canada.
- IP (still) matters: Even though there has been a short-term dip in technology-specific patent filings, acquisitions and assertions of operating company patents by NPE’s (non-practicing entities), are projected to accelerate into 2021, which makes growing companies susceptible to being targeted.
- Support for IP in Canada has never been stronger: We are seeing the support needed for IP at the provincial level, with BC announcing its First Patent Program and Ontario’s expert panel on IP recommended an IP Action Plan, and nationally with Minister Bains announcing the launch of IAC. COVID has forever changed the world, but the need for innovation and IP as we move past the ‘recovery stage’ to the ‘thrive stage’ has only become more essential for immediate and long-term business success.
There is power in the collective opportunities that Canadian companies are now in a position to capitalize on and to take great Canadian businesses to become competitive global players.
In the news…
Globe and Mail
Karima Bawa and Myra Tawfik
Long-awaited Patent Collective’s arrival one small step for Ottawa, one giant leap for Canada’s innovation economy
Globe and Mail