Agreement on Trade-Related Aspects of Intellectual Property Rights

The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international treaty that sets common rules for protecting intellectual property, such as inventions, trademarks, and copyrights, across member countries of the World Trade Organization. Its goal is to encourage innovation and fair competition by ensuring creators have rights to their work, while also making it easier to trade goods and technology internationally. TRIPS balances the interests of inventors and consumers, requiring countries to establish standards for IP protection, enforcement, and dispute resolution, ultimately promoting economic growth and access to knowledge worldwide.