In particular, the TRIPS requires WTO members to grant intellectual property rights to authors and other copyright holders as well as to neighbouring rights holders, i.e. performers, phonograms and broadcasters; Geographical indications Industrial designs; Built-in switching designs Patents New plant varieties Brands; Trade names and undisclosed or confidential information. TRIPS also defines enforcement procedures, remedies and dispute resolution procedures. The protection and enforcement of all intellectual property rights must be consistent with the objectives that contribute to the promotion of technological innovation and the transfer and dissemination of technology, to the mutual benefit of producers and users of technological knowledge, and in a way that promotes social and economic well-being, and a balance of rights and obligations. What are intellectual property rights? Intellectual property rights are the rights given to men by creating their minds. Other intellectual property conventions referred to in the TRIPS agreement include the Paris Convention, the Bern Convention, the Rome Convention and the Integrated Circuits Treaty. Notifications – Members` transparency toolkit shares information about their intellectual property laws, rules and practices through submissions to the TRIPS Council. The toolkit contains information exchange procedures and other tools for member transparency work. Basic introduction to the DG Intellectual Property Agreement (TRIPS) From the WTO agreement, a written introduction to the WTO for non-specialists. Unlike other IP agreements, TRIPS have an effective enforcement mechanism. States can be disciplined by the WTO dispute settlement mechanism.
Since the TRIPS agreement came into force, it has been criticized by developing countries, scientists and non-governmental organizations. While some of this criticism is generally opposed to the WTO, many proponents of trade liberalization also view TRIPS policy as a bad policy. The effects of the concentration of WEALTH of TRIPS (money from people in developing countries for copyright and patent holders in industrialized countries) and the imposition of artificial shortages on citizens of countries that would otherwise have had weaker intellectual property laws are common bases for such criticisms. Other critics have focused on the inability of trips trips to accelerate the flow of investment and technology to low-income countries, a benefit that WTO members achieved prior to the creation of the agreement. The World Bank`s statements indicate that TRIPS have clearly not accelerated investment in low-income countries, whereas they may have done so for middle-income countries.  As part of TRIPS, long periods of patent validity were examined to determine the excessive slowdown in generic drug entry and competition.