Thank you very much.
Mr. Wallace mentioned his business. I'm dealing with a local business. I'm not going to mention the particular product because it will identify this fellow who is inventing something totally different. He says there's no way he will get a patent because all that would do is tell his competitors where he's going. He told me that they always try to have a new product. They know they're going to be good for two years. By the time competitors figure out how they did it, they're on to a new product.
The reason I mention this is that I figure that is what the electronics industry has been doing all along. I grew up in an era of eight-track tapes, which came from reel-to-reel tapes, and look what we have today. I have a friend who says this is all a plan. What I'm trying to say is that I believe in both of your industries. As soon as you have the product that you want, do you not immediately—like Apple—know what's coming up next? From a governance perspective, you never want to stifle that by making the regime too strict, yet you want to protect those people who have spent a lot of research and development dollars to get where they are.
Canada is recognized as one of the countries that spends the most per capita on R and D, and yet as I tell high school students, using their vernacular, we suck at commercialization of that. That's what this government is trying to do so, from your perspective, how do we do that? Maybe you could take a minute each to say how we should use those research and development dollars that everybody wants to make sure we get the kind of commercialization that actually will drive our economy and give my grandchildren a place to work.