The Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement, enacted on January 1, 1995, is a cornerstone of an IP-based international legal framework, serving as a comprehensive multilateral treaty among all World Trade Organization (WTO) member nations.
Its primary objective is to standardize a common baseline for national regulation of various forms of intellectual property such as:
- Foster technical innovation: Encouraging the creation of new technologies and ideas by providing inventors with exclusive rights and protections.
- Facilitate transfer and distribution of technology: Facilitating the sharing of technological knowledge and advancements across borders, promoting global economic growth.
- Integration of rights and obligations: Striking a balance between the interests of creators and users of intellectual property, ensuring fair competition and access to knowledge. Read more