• 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.