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Curtis A. Cusinato

Cross-border Mergers and Acquisitions and Capital Markets Lawyer at Bennett Jones Toronto

Vice Chair and Partner

Bronwynn Shaw

Corporate Commercial Lawyer at Bennett Jones Toronto

Associate

Kristopher R. Hanc

M&A and Capital Markets Lawyer at Bennett Jones Toronto

Partner

After a year marked by headline-making large-cap transactions, Canada&rsquo;s M&amp;A market enters 2026 with measured confidence. This update analyzes the data behind recent deal activity, explores the evolving role of infrastructure, private capital and credit markets and highlights the risks and opportunities shaping the year ahead.

Canadas Q4 2025 M and A Landscape

Measured Confidence in Canada's M&A Landscape in 2026

Canada's Q4 2025 M&A Landscape

Andrew Bozzato

Corporate, M&A, Securities Lawyer at Bennett Jones Toronto

Matthew Flynn

Technology Transaction Lawyer at Bennett Jones Toronto

Oscar Crawford-Ritchie

The Canadian government recently formalized its commitment to the quantum computing sector with the launch of Phase 1 of the Canadian Quantum Champions Program (CQCP), under which it has committed up to C$92 million (C$23 million each), to four Canadian-headquartered quantum computing companies to accelerate the development of industrial-scale quantum computers capable of solving real-world problems across industries in a variety of commercial and defence applications.

Quantum Computing Investments Aligning with Canadas Defence Priorities

Quantum Computing Investments Aligning with Canada's Defence Priorities

Spencer Daniel

Lawyer at Bennett Jones Toronto

Nadia Plawiuk

In recent years, private equity investment in sports has surged globally, marking a transformative shift in the financial and operational landscape of professional athletics. The global sports market was valued at nearly US$516 billion in 2024, with forecasts projecting it will surpass US$893 billion by 2034. Major North American leagues, including the NFL, NBA, MLB, NHL and MLS have responded to this momentum by easing ownership restrictions since 2020, allowing private equity firms to acquire minority stakes and fueling increased deal activity. In 2024, minority investments accounted for 48% of deal volume, reflecting a growing trend in passive investment structures. Today, over 74 North American sports teams are backed or affiliated with private equity, with many more viewing private equity as a strategic growth partner amid rising team valuations and evolving monetization models.

How Private Equity is Changing the Game for North American Sports and Beyond

John Lawless

Private Equity, M&A, Corporate and Securities Lawyer at Bennett Jones Calgary

James D. Beeby

Corporate Finance, M&A, Private Equity and Venture Capital Lawyer

The Supreme Court of Canada has released its much-anticipated decision in Lundin Mining Corp. v. Markowich, 2025 SCC 39, clarifying the definition of a "material change" under securities law and providing guidance on when a public company must disclose information to the market. The decision will have broad implications for public companies, their directors, officers, shareholders and other market participants.

Supreme Court of Canada Clarifies Scope of Securities Disclosure Obligations for Material Changes

Shifting Grounds: Supreme Court of Canada Clarifies Scope of Securities Disclosure Obligations for "Material Changes"

Edwin G. Kroft KC

Tax Litigation Lawyer at Bennett Jones

Andrew Young

Tax Lawyer at Bennett Jones Toronto

Antoine Messervier

Tax Lawyer at Bennett Jones Vancouver

This January 2026 edition of Bennett Jones on Tax Disputes highlights recent Canadian tax litigation, including key decisions on directors&rsquo; liability limitation periods, arrears interest on reassessments, and compliance orders. The featured cases emphasize the courts&rsquo; focus on statutory interpretation, procedural fairness, and taxpayer diligence, while offering practical guidance for managing dispute risk and financial exposure.

Bennett Jones on Tax Disputes Issue 40 January 2026

Bennett Jones on Tax Disputes: January 2026

Ahmed Elmallah

Intellectual Property Lawyer at Bennett Jones Edmonton

Counsel, Patent Agent, Trademark Agent

Edward (Ted) Yoo

Intellectual Property Lawyer and Canada/US Patent and Trademark Agent at Bennett Jones Edmonton

Partner, Patent Agent, Trademark Agent

Lorelei Graham

Food and Agribusiness Lawyer, IP Lawyer, Litigation Lawyer at Bennett Jones Toronto

How an AI system is commercialized and deployed also affects whether patent protection is appropriate. In many cases, the degree of control retained by the provider over the deployed system acts as a counterweight to other considerations that might otherwise favor trade secret protection.

AI Patents A Corporate Decision Tool IV

The Business Delivery Model

AI: Is Patenting Really the Right Move? - Factor IV

This article forms one part of a broader decision framework for evaluating whether patent or trade secret protection is appropriate for AI innovation.&nbsp;The framework is designed to help decision-makers (e.g., innovaters, in house, CTOs) align patent and IP strategy with underlying business realities and moving beyond purely "legal" considerations.&nbsp;
Within that framework, this article addresses a second decision factor: what is the realistic patent scope for the AI innovation?&nbsp;An AI patent with meaningful scope can block competitors from implementing commercially viable alternatives. Assessing enforceable scope therefore requires focusing on some of the following factors: (a) competitor blocking potential; (b) detectability of infringement; and (c) divided infringement.

AI Patents A Corporate Decision Tool II

The Enforceable Patent Scope

AI: Is Patenting Really the Right Move? - Factor II

Defensive blocking considers whether a patent can prevent others from patenting or controlling adjacent technical or commercial space. It matters for two main reasons: (i) to stop competitors from obtaining patents that could later restrict your ability to operate, and (ii) to provide leverage for counter-assertion if a competitor brings a patent claim against you.

AI Patents A Corporate Decision Tool VI

Competitor Defensive Positioning

AI: Is Patenting Really the Right Move? - Factor VI

Finally, and most importantly, patentable potential addresses whether the innovation is likely to satisfy the main requirements for patentability: novelty, non-obviousness and subject-matter requirements. This assessment is highly fact-specific and depends on the prior art landscape and how the invention is framed. Early analysis helps determine whether patent protection is realistic and worth pursuing.

ESAB Corporation to Acquire Eddyfi Technologies for US$1.45 Billion

Authors


Bennett Jones Client Work ESAB Corporation to Acquire Eddyfi Technologies for US$1.45 Billion February 3, 2026 Authors Curtis A. CusinatoVice Chair and Partner Andrew BozzatoPartner Jean TessierPartner Olivier CaronAssociate ESAB Corporation (NYSE: ESAB), a focused premier industrial compounder, has signed a definitive agreement to acquire Québec City-headquartered Eddyfi Technologies, a global leader in advanced inspection and monitoring technologies, for US$1.45 billion. The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals. Bennett Jones is acting for ESAB with a team that includes Curtis Cusinato, Andrew Bozzato, Jean Tessier and Olivier Caron (M&A). Read the transaction press release Share by Email Social Media Download Download Subscribe Republishing Requests For permission to republish this or any other publication, contact Peter Zvanitajs at ZvanitajsP@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. Authors Curtis A. Cusinato, Vice Chair and Partner • Co-Head of Mergers & Acquisitions Practice Toronto • 416.777.5774 • cusinatoc@bennettjones.com Andrew Bozzato, Partner Toronto • 416.777.4878 • bozzatoa@bennettjones.com Jean Tessier, Partner Montréal • 514.985.4527 • tessierj@bennettjones.com Olivier Caron, Associate Toronto • 416.777.7920 • carono@bennettjones.com