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

The TRIPS Agreement, part of the World Trade Organization (WTO) framework, sets international standards for protecting intellectual property rights, such as patents, copyrights, and trademarks. It aims to harmonize laws across countries, ensuring inventors and creators have their rights safeguarded. By encouraging innovation and creativity, TRIPS seeks to balance the interests of creators and the public, facilitating trade while promoting advancements in technology and culture. It also addresses issues like enforcement and dispute resolution, helping countries harmonize their intellectual property laws and improve economic growth through stronger protections for ideas and inventions.