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Creating a culture of innovation

January 17, 2012

Establishing solid infrastructure and a solid research and development program to support innovation are important foundations for creating a culture of innovation in Canada. To improve innovation performance, Canada’s best bet is to create a competitive tax system across the innovation value chain and by encouraging participants by linking funds to performance. Canada has to address its tax system with respect to royalty income and intellectual property ownership to encourage companies to keep their IP in Canada rather than foreign investment where there are more favorable tax regulations.

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