Short Note On Trips Agreement
Despite this recognition, less developed countries have argued that flexible TRIPS provisions, such as compulsory licensing, are almost impossible to enforce. Less developed countries, in particular, cited their young domestic manufacturing and technology industries as evidence of the imprecision of the policy. The 1994 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) aims to establish uniform protection of intellectual property in Member States in order to ensure greater stability in international economic relations. Critics argue that the TRIPS agreement offers unnecessarily strong protection of intellectual property rights, in order to prevent patients in developing countries from having access to affordable essential medicines. .