What does trips stand for?

The WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is the most comprehensive multilateral agreement on intellectual property (IP).

What is a trip & how does it work?

Member countries have to prepare necessary national laws to implement the TRIPs provisions. TRIPs cover eight areas for IPRs legislation including patent, copyright and geographical indications. A breakthrough of the GATT signed in 1994 was that it brought TRIPs as a common standard for the protection of intellectual property globally.

What is a TRIPS Agreement & how does it work?

The TRIPs Agreement also has the distinction of being the first legal agreement to address all areas of intellectual property with a number of specific clauses. Standard – All member states are required to provide a minimum set of criteria for the protection of IPRs in each of the IP categories covered by the Agreement.

What are the implications of 'trips'?

Implication of TRIPs is that member countries should design domestic intellectual property legislations on the basis of the TRIPs provisions. TRIPs is considered as a major achievement of the Uruguay Round as an international trade agreement.