Year in Review: Our Most Popular Posts from 2025

As 2025 draws to a close, we are pleased to share our annual look at some of Stikeman Elliott's most-read posts and publications. We look forward to keeping you informed in the year ahead and appreciate your continued engagement with our insights.

Navigating M&A Risk in 2025: Strategies Amid Trade Tensions

Trade and tariffs led the news in 2025. This full-length article looks at how Canadian dealmakers are adapting to the new world of global trade.

Canada's Major Projects Office and Infrastructure Development

The federal government's new Major Projects Office is intended to fast-track nation-building infrastructure projects. This post breaks down what it might mean for Canada's infrastructure, construction, and energy sectors.

Supreme Court Endorses Broad and Flexible Framework for Material Change Disclosures

In Lundin Mining Corp. v. Markowich, 2025 SCC 39, the Supreme Court of Canada provided notable guidance on the concept of "material change," which sets the threshold for timely disclosure. The decision affirms that "change" must be understood flexibly and purposively, ensuring that disclosure obligations keep pace with real-world developments in an issuer's operations.

Five Things to Consider When Designing an AI Governance Program

Artificial intelligence, one of the hot topics of 2025, is full of promise but also fraught with legal and regulatory implications. This post identifies key issues for businesses as they deal with AI challenges.

Modernizing Canada's Mining Disclosure Regime

Securities law disclosure for Canadian mining companies is to be streamlined and modernized under proposed Amendments to National Instrument 43-101. Our mining team reviewed the Canadian Securities Administrators' proposal in this post from June 2025.

Permanent WKSI Regime Modernizes Capital Raising for Established Issuers

As we reported in September 2025, the Canadian Securities Administrators released final amendments to National Instrument 44-102 that create a permanent expedited shelf prospectus regime for well-known seasoned issuers (WKSIs). This long-awaited initiative will streamline capital raising for established issuers.

Proactive Governance and Personal Data Protection

The importance of strict privacy safeguards for businesses handling personal information was stressed in a joint Canada-U.K. investigation of a cyberattack against a leading U.S.-based provider of DNA analyses. Our privacy team discusses the findings and their implications in this post.

Data Centre Projects in Alberta: Infrastructure for the AI Age

As the phenomenal growth of artificial intelligence ("AI") technology transforms business and society at large, Canada is in a strong position to develop and host the energy-intensive infrastructure that AI needs. As this article discusses, Alberta has been at the forefront of these efforts and recent provincial and federal initiatives are making investment in the sector more attractive than ever.

What the Law Says about "Made in Canada" Claims

Surging consumer preference for domestic products is creating an incentive to identify products as "Canadian" on packaging and in advertising. This post looks at the Competition Bureau's guidelines for "Made in Canada" and "Product of Canada" claims.

Enforceability of Restricted Stock Unit Forfeiture Provisions Upheld

This post looks at an Ontario ruling upholding the enforceability of a restricted stock unit (RSU) forfeiture provision in an RSU award agreement in spite of the fact that, as it also held, the termination clause in the employment agreement violated Ontario's employment standards legislation.

Addressing the Housing Crisis in Canada's Urban Areas

Addressing high housing costs has become a priority for Canada's governments. In this post, our Municipal Law group looks at a major densification initiative in Toronto that may be a precursor of similar efforts elsewhere.

Expedited Clean Energy Project Permitting: British Columbia Joins a Global Trend

British Columbia's Bill 14, which streamlines permitting for renewable energy projects, is part of a global regulatory paradigm shift. As we discuss in this post from July 2025, jurisdictions around the world are removing regulatory roadblocks to energy projects that align with their net-zero objectives.

Patent Appeal Board Rules That AI Can't Be An "Inventor"

The developer of an AI system through which a consumer product had been designed applied for a Canadian patent, listing the AI system as the "inventor" but the Patent Appeal Board, following similar rulings in other countries, held that, for patent law purposes, only a natural person can be an inventor

Regulatory Approaches to AI Use by Financial Institutions

The financial industry, like many others, is assessing the possibilities of artificial intelligence. Regulatory involvement will be key to determining the ultimate shape of AI adoption, as discussed in this post about draft guidelines from Québec's AMF that will impact Québec-regulated institutions.

More Decisions on COVID-era Workplace Vaccination Policy Disputes

Litigation arising from COVID-era vaccination disputes continues to make its way through the courts. This post discusses British Columbia and Ontario rulings that fell on opposite sides of the line between justified and unjustified employer responses to employees who won't get vaccinated.