In Today’s News:
- TRIPS agreement.
1. TRIPS agreement
In view of the global health crisis and the need to combat the Covid 19 pandemic, India and South Africa proposed in WTO on 2nd Oct 2020 a relaxation in the norms of the agreement on TRIPS, to ensure quick and affordable access to vaccines and medicines for developing countries.
Courtesy: PIB dated 6th May 2021.
Prelims GS – International Relations
- The TRIPS Agreement, which came into effect on 1 January 1995, is the most comprehensive multilateral agreement on intellectual property.
- Trade-Related Aspects of Intellectual Property Rights is the full form of TRIPS.
- The TRIPS Agreement introduced global minimum standards for protecting and enforcing nearly all forms of intellectual property rights (IPR), including those for patents.
- The areas of intellectual property that it covers are copyright and related rights (i.e. the rights of performers, producers of sound recordings, and broadcasting organizations); trademarks including service marks; geographical indications including appellations of origin; industrial designs; patents including the protection of new varieties of plants; the layout-designs of integrated circuits; and undisclosed information including trade secrets and test data.
- The TRIPS Agreement is a minimum standards agreement, which allows Members to provide more extensive protection of intellectual property if they so wish.
- Three main features of TRIPS:
- Enforcement and
- Dispute Settlement.
- TRIPS agreement is under the purview of WTO. (World Trade Organization).
Click here to know more about TRIPS on the official website.
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