This report describes the nature of the intellectual property protections instituted through recent trade deals involving Canada or the UK, and provides a broader analysis of the IPR impact on trade. We discuss the rationale for international coordination of the IPR policy and then we review the nature and the scope of IPR clauses in the trade agreements in the context of the recent mega-regional trade deals: CETA, CT-TPP, USMCA. We aim at stressing the relevance of IP clauses for the British and Canadian IP regimes. We also discuss IP areas that will be affected by Brexit. Next, we provide a focused literature review of the effects of the IPR on trade patterns. We discuss the evidence and impact of IPR strengthening on trade volumes and their composition, cross-sectoral differences, and technology diffusion and innovation. When possible, we relate those findings to the UK and Canadian context. Finally, we address the broader question of the importance of the intangible assets for the long-term growth, and the role of IPR in this context. We additionally discuss the role of the IPR for the development of the new business models and global supply chains.