What is the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS)?

The Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) is a cornerstone of international trade law in Georgia and much of the world. It is an agreement between the Member States of the World Trade Organization (WTO) that sets out minimum standards of protection for intellectual property rights – copyrights, trademarks, patents and the like - around the world. The main objective of TRIPS is to ensure that countries provide a level of protection for intellectual property rights that meets certain minimum standards. This ensures that countries are not competing on the basis of low quality protection for intellectual property rights. It also encourages innovation and creativity by providing incentives to inventors and to those who invest in research and development by creating a legal framework for the enforcement of intellectual property rights. Under the TRIPS agreement, countries must provide adequate legal protection and enforcement legally of patents, trademarks, copyrights, geographical indications, layout designs of integrated circuits, and undisclosed information (trade secrets). In addition, TRIPS requires the Member States to establish a dispute settlement procedure to resolve disputes between WTO Members regarding the application of the TRIPS agreement. In short, TRIPS is an agreement between WTO Member States that sets out minimum standards of protection for intellectual property rights, encourages innovation, and sets the foundation for the enforcement of these rights. It is an essential part of international trade law in Georgia and supported by many countries around the world.

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What is the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS)?

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