RIM is for many both a great smartphone manufacturer and a source of patriotism. It’s a leader in the ITC (Information and Communications Technology) sector and their executives, especially Jim Balsillie, are quick to point out that it’s a Canadian firm

RIM has been lobbying very hard to get the Canadian government to intervene in the deal between Nortel and Sony Ericsson.

On Saturday, Nortel officially sold a portfolio of CDMA and next-generation LTE wireless assets to Swedish Ericsson. While RIM did not enter the Nortel bid officially, they’re still looking for ways to acquire some of Nortel’s technology.

Today in New York, the bidding starts for Nortel Networks Corp.’s largest business unit.

Canada has recently passed a new Investment Canada Act which gives the Cabinet the power to block a foreign corporate takeover in the interests of national security. While it may not be clear what constitutes “national security,” the Nortel auction is a clear example of where this act can be applied.