Thank you.
Mr. Stratton, I noticed in your brief that you talk about venture capital and the challenges we face as a country around that. You talk about tax incentives as a stimulant for VC.
However, my question is for you, Mr. Lynds. While tax incentives are certainly important, I wonder if there's a place in the conversation, when it comes to venture capital, for intellectual property. I'll quote directly from a Globe and Mail piece: “VC firms put their money where there's IP”. I wonder, sir, if you could speak to the connection between intellectual property and venture capital.