The WTO (World Trade Organization) recently commemorated the 30th anniversary of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
About the TRIPS Agreement:
- An international legal agreement that establishes minimum IP regulation standards for all WTO members, to be implemented by national governments.
- One of the main annexes of the Marrakesh Agreement, which established the WTO.
- Negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT).
- Came into force in 1995 with India joining in the same year.
- All 164 WTO member countries are parties to it.
- The TRIPS Council administers, monitors its operations, and serves as a forum for WTO members to discuss related issues.
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