How does the TRIPS Agreement benefit trade?
The Trade Related Aspects of Intellectual Property Rights Agreement was a milestone in the multinational effort to establish stronger international legal standards governing protection of intellectual property rights. TRIPS requires all World Trade Organization members to adhere to a set of minimum legal standards governing patents, trademark protection, copyrights and other forms of intellectual property. The agreement also requires all WTO members to grant rights expeditiously and to provide legal remedies for enforcement purposes.
