According to Canadian statutes, an inventor or innovator is given the right to patent intellectual property and exclusively enjoy its benefits for twenty years. The laws protect different types of inventions and innovations including copyrights, brands and trademarks amongst others. The country has also signed several agreements with other states on the need to protect property rights to prevent piracy. Recommended Actions
Economic activities within Canada are still under the influence of the government; its economy is mixed. Besides, the Country still has several trade barriers. It is important that the country’s economy is fully liberalized and left to market forces. The restrictive trade barriers should also be removed in order to encourage trade with other nations and also attract more foreign investors. Conclusion Even though Canada has a well performing economy, it still limits its potential through trade barriers (Maclean, 2006).
It also runs the risks of losing out in economic gains should the political challenges note resolved in a timely manner. Besides, it has put into place laws that protect intellectual property which will definitely encourage inventions and innovations. Reference Maclean, R. (2006). EU trade barrier regulation: tackling unfair foreign trade practices. U. S: Sweet & Maxwell. Publishing Oecd Publishing.
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