What is the purpose of the TRIPS Agreement?
The purpose of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is to ensure that intellectual property rights are respected in the context of international trade. It was negotiated at the Uruguay Round of the General Agreement on Tariffs and Trade (GATT). The agreement was adopted in 1994 and came into effect in January 1995. The TRIPS Agreement is a set of international intellectual property rights standards. It requires countries to provide national treatment of foreign nationals, meaning that foreign nationals are to be treated the same as domestic nationals in terms of intellectual property protection. This means the same level of protection for foreign nationals that a country provides for its own citizens. The TRIPS Agreement sets forth minimum standards of protection for trademarks, patents, copyright, industrial designs and geographical indications. It also requires countries to provide enforcement measures for protecting intellectual property rights, such as civil, administrative or criminal remedies. In addition, it requires countries to provide cooperation between their intellectual property systems. The purpose of the TRIPS Agreement is to ensure that intellectual property rights are respected and protected in international trade. This would promote innovation and create incentives for the development of new technologies, products and services. The TRIPS Agreement provides a level of protection for intellectual property that is higher than what was previously available in most countries, which would help foster creativity and invention.
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