Canadian Lawyer InHouse

Feb/Mar 2011

Legal news and trends for Canadian in-house counsel and c-suite executives

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EDITOR'S BOX By Andi Balla INHOUSE Group Publisher: Karen Lorimer Editorial Director: Gail J. Cohen Editor: Andi Balla Staff Writer: Robert Todd Copy Editor: Heather Gardiner Art Director: Bill Hunter Account Co-ordinator: Catherine Giles Advertising Sales Representatives Legal Suppliers: Kimberlee Pascoe Tel: (905) 713-4342 E-mail: kimberlee.pascoe@thomsonreuters.com Law Firms: Karen Lorimer Tel: (905) 713-4339 E-mail: karen.lorimer@thomsonreuters.com Sales Co-ordinator: Sandy Shutt Tel: (905) 713-4337 E-mail: sandra.shutt@thomsonreuters.com Canadian Lawyer InHouse is published 6 times a year by Thomson Reuters Canada Ltd., 240 Edward St., Aurora, Ont. L4G 3S9 (905) 841-6480 Fax: (905) 727-0017. Web: www.canadianlawyermag.com/inhouse All rights reserved. Contents may not be reprinted without written permission. The opinions expressed in articles are not necessarily those of the publisher. Information presented is compiled from sources believed to be accurate, however, the publisher assumes no responsibility for errors or omissions. Canadian Lawyer InHouse disclaims any warranty as to the accuracy, com- pleteness or currency of the contents of this publication and disclaims all liability in respect of the results of any action taken or not taken in reliance upon information in this publication. Publications Mail Agreement #40766500 ISSN 1921-9563 Copyright © 2011 H.S.T. Registration #R121349799 To subscribe Call 1-888-743-3551 x4392 or e-mail Jacquie Clancy at jacquie.clancy@thomsonreuters.com RETURN UNDELIVERABLE CANADIAN ADDRESS TO: CIRCULATION DEPARTMENT 240 EDWARD ST., AURORA, ON L4G 3S9 www.canadianlawyermag.com/inhouse A piece of the good life C anada's economy attract- ed a lot of positive press while the rest of the world lingered in reces- sion. Foreign investors were paying attention, and they too now want a piece of the good life in a rules-based, free-market economy with a lot of potential, particularly in the mining, energy, and high-tech sectors. As a result, the Canadian mergers and acquisitions market, already up in 2010, is expected to grow even further in 2011. Depending on the industry, much of the investment will come from outside Canada. In some cases, it will mean for- eign businesses will get controlling shares of Canadian companies. Canada is open for business, and it should remain that way. Thankfully, Canadian governments largely understand and respect that for- eign investment is ultimately good for Canadians. However, when Ottawa stepped in to stop the unsolicited takeover of Potash Corp. of Saskatchewan by Australia's BHP Billiton Ltd. last year, there were natural questions. Is this the first in a series? Are we entering a new era in which Canada will be more rigorous in making sure its natural resources remain in the hands of Canadian companies? Is Canada being stricter than other countries around the world? These questions are explored in-depth in our cover story "Fortress Canada?" on page 16. For now, the answer to those ques- Indexed in the Canadian Periodical Index tions appears to be no. Ottawa has used its right to block foreign takeovers under the Investment Canada Act sparingly and responsibly. It has done so only twice, including PotashCorp, and has had fairly good reasons in both cases. There is no indication it will act any differently in the future. In the longer term, depending on how the global economy goes and how other countries act, all cards might be on the table. We could end up with either a strict- er or looser interpretation of the ICA's core mission: to "provide for the review of significant investments in Canada by non- Canadians in order to ensure such benefit to Canada." But for now, the balance seems just right. Also in this issue, we look at how elec- tronic tools are increasing efficiency in legal departments, as our "Beyond paper" feature shows on page 26. In addition, the approval of the much-awaited Canada Consumer Product Safety Act will more stringently regulate product recalls, as the "Safety first" article indicates on page 31. We also have a look at problems the Canadian biotech industry is facing (page 35) and new global challenges to attorney- client privilege thanks to a European court ruling (page 39). Beyond the print edition, I also want to remind all of you to visit our web site, canadianlawyermag.com/inhouse, where our web-exclusive content grows every week. Since the beginning of the year, our group of publications has also been busy with a new daily blog, Legal Feeds, which often contains material relevant to an in- house counsel and business-executive audience. As well, our LinkedIn group is now approaching 100 members, so if you use the service and haven't joined yet, please do so for a chance to network with your colleagues and us. IH Indexed in the Canadian Periodical Index Send your news and story ideas to andi.balla@thomsonreuters.com INHOUSE FEBRUARY 2011 • 3

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