Thank you very much.
I want to thank all of our witnesses today for being with us.
Mr. Balsillie, I'm recently elected and represent Kitchener South—Hespeler. I'm very interested of course, in your perspective. You have a very unique perspective with the Council of Canadian Innovators and with the BlackBerry history, which I would argue is still today one of Canada's most iconic tech start-ups. It brought us mobile email and many of us can't even remember what life was like before that.
We do know that the success of the Waterloo region is largely attributed to the IP policy with the University of Waterloo, where the developer of the IP gets to keep the IP and commercialize it. This is quite unique among many universities, where the university institution owns the IP. This has resulted in attracting professors and students who find that very attractive.
I was interested in your comment about IP collectives. Could you explain how they might work?