TRIPS Agreement Law and Legal Definition
TRIPS agreement means the agreement on Trade Related Aspects of Intellectual Property Rights. This is the most comprehensive multilateral agreement on intellectual property. The TRIPS Agreement came into force in 1995. The agreement is sometimes referred to as a Berne and Paris-plus agreement.
The TRIPS agreement is the first international agreement that sets forth minimum standards of protection for several areas of intellectual property. It also mandates detailed civil, criminal, and border enforcement provisions with regard to intellectual property. Additionally, it is the first international intellectual property agreement that is subject to binding, enforceable dispute settlement.
The TRIPS Agreement allows its members to provide more extensive protection of intellectual property if they so desire. Members also have the freedom to choose the appropriate method of implementing the provisions of the TRIPS agreement within their own legal system and practice.
The TRIPS agreement establishes minimum standards for the use, scope, and availability of different forms of intellectual property covered by it. Some areas of intellectual property that the TRIPS agreement covers are:
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