What's Mine Is Yours

You may be familiar with a parent's teaching to "share" with others - "sharing is caring". This teaching has been a part of our economic system throughout history; bartering and sharing of goods is not a new concept. However, in recent years, "sharing" has entered the marketplace in new and innovative ways, primarily by facilitating elaborate peer-to-peer networks. Many businesses rely on the concept of collaborative consumption to create value for shareholders, and have been highly successful in doing so. Some of the sharing economy pioneers include Airbnb, Uber and Spotify.

The sharing economy is a socio-economic ecosystem that is supported by the sharing of human and physical resources. Companies in the sharing economy unlock the potential of underused assets. As a result, the sharing economy has recently received acolytes from industry experts. In 2011, collaborative consumption was named one of TIME Magazine's greatest ideas that will change the world. The Ontario Chamber of Commerce, in...