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To foster investment, one needs to make the environment more certain from legal perspective. The Act should be simple to interpret by an average person so that it can be applied efficiently by new start-ups deciding to try new business models.
Strong public domain drives competition between works in the public domain and works under copyright, this gives an incentive to give something better to your intended audience.
It is also important that the law is respected by everyone. Today's total disrespect of copyright by everyone else but creative industries is because the law is unfair to everyone else. Repeated copyright term extensions are a form of public domain avoidance and this violates the contract between creators and society where the society expects works to become public domain. If a contract is violated, it will be resiliated by the other party, the society: this is why we see a total disrespect of copyright today. Additional restrictions like legally protecting Digital Restrictions Management consumer control, "approved devices" vendor lock-in and other unfair business practices also shift the balance from the consumer and will not give the law more respect.
In order to foster competition, the Competition Bureau should have powers it needs to investigate unfair business practices like Digital Restrictions Management consumer control and device lock-in and get teeth to punish violators. Because copyright is a monopolistic privilege, anticompetitive actions resulting from it should be also part of Competition Bureau's mandate