TRIPS Agreement pertains to

by

TRIPS Agreement pertains to

international tariff regime
intellectual property protection
international practices on trade facilitation
international taxation of property
This question was previously asked in
UPSC CDS-1 – 2017
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TRIPS stands for the Agreement on Trade-Related Aspects of Intellectual Property Rights. It is an international agreement administered by the World Trade Organization (WTO) that sets minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations.
The TRIPS Agreement is a key agreement within the WTO framework that harmonises global standards for intellectual property rights like patents, copyrights, trademarks, geographical indications, industrial designs, etc.
Prior to TRIPS, intellectual property rules varied significantly between countries, leading to potential trade disputes. The TRIPS Agreement aims to ensure adequate and effective protection of intellectual property rights and to ensure that measures and procedures to enforce intellectual property rights do not themselves become barriers to legitimate trade.

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