 Innovation improving lives. Innovation in some senses is a much overused word. We hear it all the time now, but I think that's a sign of the importance of innovation as a social and economic phenomenon. We're very familiar with the contribution that innovation or technological progress makes to economic growth and the opportunities that innovation opens up for new and better jobs in the economy. We don't think sufficiently about the improvements in the quantity of our life that are brought about by innovation. One only has to compare the way in which we live today to the way in which we lived 100 years ago and we see an extraordinary transformation in the quality of our material life as a consequence of the new, the introduction of new things. What does intellectual property have to do with all this? Well intellectual property is a crucial element of a successful innovation system. It provides a return for those who introduce the new in terms of products and services into the economy. It provides a framework for the rather difficult and challenging journey that any idea has to undertake before becoming a commercial reality as a product or service. We're celebrating in innovation the improvement of our lives and we're also celebrating all of those risk takers, all of those who have dared change through innovation. And this is the theme for World Intellectual Property Day. I encourage you all to discuss the ups and downs, the difficulties, the challenges confronted by innovators and innovation and how we can make innovation really work to the benefit of the whole of society. Thank you.