Intellectual Property in Canadian Manufacturing Industry Essay

Intellectual Property in Canadian Manufacturing Industry - Essay Example The empirical literature is also limited to some extent. This is the reason that our understanding of IP is below satisfactory level. The patents of IP institution are considered as protectors of intellectual property as Canada has a history of intellectual property institution. In the year 1867, Canada was created as federation and its very first patent act starts from the year 1869. Right after its beginning the Patent Act used to revise several times in the last century. Recently there were major amendments took place. Canada has also abandoned its first to invent patent system for first to file system on 1st October 1989. The requirements related to disclose patents to public are modified. The duration is also modified among other amendments of patent act provisions. There is a very little information available regarding impact of Canadian patent system on Canada’s economy because there are changes made to the legislation in the year 1989 and how does it affected the econo my of Canada; this information is yet to be revealed or explored. In the international trade and investment policy the IPR issue has captured the attention. The attention can be clearly identified where the inclusion of negotiations on TRIPs within multilateral trade policy were taking place. The implicit policy assumes the differences in IPRs worldwide and these differences affect the investment flows and international trade. Intellectual property is available in different forms like patents, trademarks, copyright etc and it is considered as a firm’s property. The exploitation of this IP can be enhanced via global marketing strategies. IP can be traded by... This essay tries to establish, how the regime of intellectual property protection can stimulate the creative ideas as well as knowledge in Canada, along with ensuring the access to the innovations in an economical or affordable way. IP rights or IPRs are considered as important source in providing help to creators and innovators so that the innovators could get a pay back in exchange of their creativities. IP provides market exclusivity to innovators so that they can get benefits for their innovative ideas. IP is also involved in providing protection to intellectual property as protection is an important aspect because Canadians get the benefits of the knowledge and creativity. The optimal level of IP protection can make the contributions to the knowledge base economy of Canada. Most of the companies in Canada have a high opinion of the effectiveness and efficiency of IP protection, 66.9% of manufacturing firms in Canada use at least one of many IPRs. Organization use IP protection feel efficient work environment as compared with firms who have no idea about IP protection system, also the firm using IP protection innovated the ideas more frequently than the firms who did not and the latter use these instruments more than non-innovators. The proportion of firms that use IPRs is increasing with firm size. Firms operating in the low-tech other sector are at lowest level of IPR users. There must be an encouragement for small and medium sized firms for the usage of IP protection;