Under the TRIPS Agreement, WTO members have considerable scope to tailor their approaches to IP protection and enforcement in order to suit their needs and achieve public policy goals.The Agreement provides ample room for members to strike a balance between the long term benefits of incentivising innovation and the possible short term costs of limiting access to creations of the mind.Innovation, creativity and branding represent a large amount of the value that changes hands in international trade today.
The TRIPS Agreement has an additional important general objective: intellectual property protection should contribute to technical innovation and the transfer of technology.
Both producers and users should benefit, and economic and social welfare should be enhanced, the TRIPS Agreement says.
The TRIPS Agreement says members have to provide ways to prevent such misuse of geographical indications.
For wines and spirits, the TRIPS Agreement provides higher levels of protection, i.e.
The second part of the TRIPS Agreement looks at different kinds of intellectual property rights and how to protect them.
The purpose is to ensure that minimum standards of protection exist in all WTO members.The TRIPS Agreement covers five broad areas: how general provisions and basic principles of the multilateral trading system apply to international intellectual property what the minimum standards of protection are for intellectual property rights that members should provide which procedures members should provide for the enforcement of those rights in their own territories how to settle disputes on intellectual property between members of the WTO special transitional arrangements for the implementation of TRIPS provisions.As in the General Agreement on Tariffs and Trade (GATT) and the General Agreement on Trade in Services (GATS), the starting point of the TRIPS Agreement is basic principles.The TRIPS Agreement plays a critical role in facilitating trade in knowledge and creativity, in resolving trade disputes over intellectual property, and in assuring WTO members the latitude to achieve their domestic objectives.The Agreement is legal recognition of the significance of links between intellectual property and trade.And as in the two other agreements, non-discrimination features prominently: national treatment (treating foreign nationals no less favourably than one’s own nationals), and most-favoured-nation (MFN) treatment (not discriminating among nationals of trading partners).National treatment is also a key principle in other intellectual property agreements outside the WTO.Members can reduce short term costs through various mechanisms allowed under TRIPS provisions, such as exclusions or exceptions to intellectual property rights.And, when there are trade disputes over the application of the TRIPS Agreement, the WTO’s dispute settlement system is available.Governments grant creators the right to prevent others from using their inventions, designs or other creations — and to use that right to negotiate payment in return for others using them. Governments grant creators these rights as an incentive to produce and spread ideas that will benefit society as a whole.The extent of protection and enforcement of these rights varied widely around the world; and as intellectual property became more important in trade, these differences became a source of tension in international economic relations.