World Trade Organisation (WTO) commemorated 30th anniversary of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) | Current Affairs | Vision IAS
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    World Trade Organisation (WTO) commemorated 30th anniversary of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)

    Posted 07 May 2024

    2 min read

    • TRIPS Agreement was evolved as part of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), predecessor to WTO. 
      • It was included as one of the main annexes to the Marrakesh Agreement that established the WTO.
      • It came into force on January 1, 1995.

     

    Key Highlights

    :
    • About: Most comprehensive multilateral agreement on intellectual property rights (IPR).
      • IPR gives the creator an exclusive right over the use of his/her creations (inventions; literary and artistic works; designs, etc.) for a certain period of time.
    • Standards:  Sets out the minimum standards of protection to be provided by each Member.
      • It has incorporated provisions from World Intellectual Property Organization’s (WIPO) Paris and Berne Conventions.
    • Coverage: Copyright, trademarks, geographical indications, industrial designs, patents, layout-designs of integrated circuit etc. 
    • Dispute settlement: Any disputes regarding TRIPS obligations are subjected to the WTO’s dispute settlement procedures.
      • Also, provided for Council for TRIPS (Forum where WTO members discuss issues relating to agreement).
    • Compulsory licensing: Allowed compulsory licensing to produce the patented product or process without the consent of the patent owner. It helped developing and under developed country. 

     

    Key Information

    • India joined the TRIPS Agreement in 1995.
      • In compliance with TRIPS Agreement, amendments were brought in the Patents Act, 1970. E.g. Patents (Amendment Act) of 2005.
    • Doha Declaration on the TRIPS Agreement: It affirmed that the TRIPS Agreement does not and should not prevent members from taking measures to protect public health and the right of members to fully use flexibilities in the Agreement for this purpose.
    • Tags :
    • WTO
    • TRIPS
    • Compulsory licensing:

    Articles Sources

    https://www.wto.org/english/news_e/news24_e/trip_26apr24_e.htm#:~:text=WTO%20members%20commemorated%
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