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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,245,509,843
Close 2025-01-22 C$ 74.05
Market Cap C$ 92,230,003,874
Recent Sedar Documents

Globe says BMO, rivals hear call to find opportunities

2025-01-23 07:23 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Thursday, Jan. 23, edition that tariffs pose a threat to Canada's economic security. The Globe's guest columnist Richard Gold writes that if Donald Trump acts on his tariff threats, Canada should use all available economic tools, including intellectual property rights like patents. Under Canadian and international law, Canada can suspend patent rights held by U.S. companies in critical sectors such as pharmaceuticals and artificial intelligence, putting significant pressure on the Trump administration. Under the World Trade Organization and Canada's Patent Act, Canada can bypass U.S.-controlled patents, allowing Canadian companies to produce patented drugs and develop AI-based inventions. In response to Mr. Trump's tariffs creating a national emergency, Canada could quickly request these rights from the Commissioner of Patents. Canada's economic future relies on effectively managing intangible assets like patents and intellectual property. While the U.S. has advanced its intangibles economy, trade deals have limited Canada's economic sovereignty by granting greater patent rights to U.S. companies. Canada can regain some sovereignty by finding ways to navigate U.S.-controlled patents.

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