Trade-Related Aspects of Intellectual Property Rights (TRIPS)

The Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement is an international treaty that sets minimum standards for intellectual property protection among World Trade Organization (WTO) members. It covers patents, copyrights, trademarks, and trade secrets, aiming to foster innovation and creativity while ensuring fair competition. TRIPS helps countries balance the rights of creators with public interest, such as access to medicines and technology. Implemented in 1995, it plays a crucial role in global trade by providing a framework for protecting and enforcing intellectual property rights across borders.