TRIPS stands for Trade-Related Aspects of Intellectual Property Rights. It is an agreement under the World Trade Organization (WTO) that sets out the minimum standards for the protection and enforcement of intellectual property rights (IPRs) among its member countries.
The TRIPS agreement covers a range of IPRs, including patents, trademarks, copyrights, and trade secrets. It requires member countries to provide adequate and effective protection for these rights, as well as to establish judicial and administrative procedures for their enforcement.
TRIPS also includes provisions for the protection of traditional knowledge, plant varieties, and geographical indications. It also allows for certain exceptions to intellectual property rights, such as for public health purposes.
The TRIPS agreement has been a subject of controversy and debate since its adoption in 1994. Critics argue that it places undue emphasis on the protection of IPRs at the expense of access to essential medicines and other public goods. Supporters, however, argue that it is necessary to provide a framework for the protection and enforcement of intellectual property rights in the global marketplace.
