Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)

The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international treaty that sets minimum standards for protecting intellectual property (IP), such as patents, copyrights, trademarks, and trade secrets, among World Trade Organization (WTO) members. Established in 1994, TRIPS aims to promote innovation and creativity by ensuring that creators and inventors can benefit from their work. It balances the interests of IP holders with access to knowledge and technology, addressing issues like counterfeit goods and piracy while fostering fair trade in global markets.