The branch-plant economy is when we have an economy here, but the assets don't stay here. The IP is stored elsewhere, in America, China or Asia. We do all the work. We come up with the ideas, but they leave the country. It goes back to the home country of the headquarters of the company.
That's why it's very important when we're making decisions about what a Canadian company is and how we support it. We need to understand where the management team is. Are they here in Canada, or are they elsewhere? Is the IP stored here? Where are the profits going? If they're flowing back to another country, that's not really providing value to Canadians.
At the end of the day, as I mentioned, a bulk of the S&P 500 is made up of intangible assets like IP, data and brands as well, so we really need to have a better understanding of what those assets are and how to better leverage them.