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TORONTO — Ontario needs to do more to make sure the economic benefits of intellectual property produced in the province are captured, said a new report released Tuesday by the provincial government.

Intellectual property is a crucial and increasingly large driver of economic prosperity, according to the Ontario-government commissioned report by an expert panel chaired by Jim Balsillie.

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“The digital transformation over the past 30 years has resulted in a new economic reality in which the basis of wealth and power is derived from the ownership of valuable intellectual property.”

Balsillie, co-founder of what is now BlackBerry, has long been advocating for Canada to do more to protect and capture intellectual property created in the country.

The report notes that Ontario’s GDP per capita has slipped compared with the U.S. in recent years as IP and data become increasingly dominant as economic values.