Hon. Danièle Henkel: Senator Moreau, the 2025 report on intellectual property in Canada is unequivocal. In an economy increasingly based on intangible assets, intellectual property is a key driver of competitiveness and value creation. However, the data show that 88% of patent applications filed in Canada are from non-residents, that Canadian companies file the vast majority of their intellectual property patent applications abroad, and that only 12% of companies protect the intellectual property of their innovations.

Under the circumstances, why does the economic update contain no structural measures relating to intellectual property?

Hon. Pierre Moreau (Government Representative in the Senate): I’m sure you’ll have a supplementary question. I’ll refer you to page 138 of the economic update tabled this week regarding supports for the intellectual property program.

The government recognizes the importance of intellectual property for our businesses and investors. Budget 2025 includes a number of measures to protect intellectual property. We have allocated $84.4 million over four years, beginning in 2026-27, to Innovation, Science and Economic Development Canada to extend the ElevateIP program. We have also allocated $22.5 million over three years, beginning in 2026-27, to renew support for Innovation Asset Collective’s patent portfolio. Finally, we are providing $75 million over three years to the National Research Council to extend the IP Assist Initiative.

Senator Henkel: Senator Moreau, in an economy where value increasingly rests on intangible assets, doesn’t the total absence of an IP strategy in the economic statement amount to underestimating the impact on our economic sovereignty?

Senator Moreau: Thank you, Senator Henkel. I would like to draw your attention to page 138 in Annex 1 of yesterday’s economic update, where it mentions CanExport, an intellectual property support program. This indicates the government’s intention to not only extend its support for CanExport in the general budget tabled for 2026, but also to increase the funding allocated through the economic update tabled yesterday.