The 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 common standards for protecting inventions, trademarks, copyrights, and other intellectual property across World Trade Organization (WTO) member countries. Its goal is to encourage innovation and creativity by ensuring creators have rights to their work while also allowing fair-patent laws. TRIPS balances the interests of inventors and the public, promoting fair trade and access to knowledge globally. It helps prevent intellectual property theft, ensuring that rights are respected consistently across different countries.