TRIPS Agreement

The TRIPS Agreement, short for Trade-Related Aspects of Intellectual Property Rights, is a global treaty that sets minimum standards for intellectual property protection, including patents, copyrights, trademarks, and trade secrets. Established by the World Trade Organization (WTO) in 1995, it aims to ensure that countries safeguard creators' rights while promoting innovation and trade. By harmonizing IP laws internationally, TRIPS supports economic growth and development, though it also raises concerns about access to medicines and the impact on local cultures. Overall, it balances the interests of creators and public access to knowledge and technology.