1.

So for understanding TRIPS firstly take an example of 2medicines 

● One of them is a branded medicine and lots of hard work/ brains/ R&D is involved in 
making that medicine and if someone is investing so much of his time /brain in 
developing that medicine then he is really worthy of some rewards .
 
● Then he will be more motivated to do innovations and in future we will be getting 
more of the solutions to the problems caused by disease like HIV, CANCER or 
considering today's problem like covid.
 
● And we will be getting more drugs for curing diseases like hiv and all…. 
 
● But what if someone stole that IDEA , stole the idea of making that drug  
 
● Without any R&D just stoling the composition and making the similar kind of drug  
 
● Suppose the original drug was priced at 500 rupees and the new stolen drug is been 
sold at 50 rupees then it will be a great loss to the original maker of the drug as the 
new one has done nothing and made a same kind of medicine  
 
So this contrast light on ​intangible assets​ is an ​asset​ that is not physical in
nature. Goodwill, brand recognition and intellectual property, such as patents,
trademarks, and copyrights, are all ​intangible assets​. ​Intangible assets​ exist in
opposition to tangible ​assets​, which include land, vehicles, equipment, and
inventory.

2. As we know the intellectual property is greatly involved in trade of goods and services 
nowadays and it is increasing dramatically in recent years. So it is very important to protect 
intellectual property for keeping the world economy in good shape. 
 
Inappropriate and insufficient protection of intellectual property can lead to deformation of 
free trade 
 
The ​transfer​ of ​intellectual property rights​ is made upon a payment of a lump
sum or royalties. Unlike licence ​agreements​, which grant permission to use
intellectual property​ under certain conditions, as a general rule assignments
are ​transfers​ of ​property rights​, with no conditions under which the ​rights​ will
be used. 
3. The Agreement on Trade-Related Aspects of Intellectual Property Rights is an international 
agreement administered by the World Trade Organization 
This agreement sets down minimum standards for many forms of intellectual property 
regulation as applied to nationals of other WTO Members. 
 TRIPS was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs 
and Trade in 1994. 
 

4. Paris Convention for the Protection of

Industrial Property
The Paris Convention, adopted in 1883, applies to
industrial property in the widest sense, including
patents​, ​trademarks​, ​industrial designs​, utility models,
service marks, trade names, ​geographical indications
and the repression of unfair competition. This
international agreement was the first major step taken
to help creators ensure that their intellectual works
were protected in other countries.

[Link]

[Link] Convention for the Protection of

Literary and Artistic Works
The Berne Convention, adopted in 1886, deals with the
protection of works and the rights of their authors. It
provides creators such as authors, musicians, poets,
painters etc. with the means to control how their works are
used, by whom, and on what terms. It is based on three
basic principles and contains a series of provisions
determining the minimum protection to be granted, as well
as special provisions available to developing countries that
want to make use of them.
[Link]

[Link] Convention for the Protection of

Performers, Producers of Phonograms and
Broadcasting Organizations
The Rome Convention secures protection in performances
for performers, in phonograms for producers of phonograms
and in broadcasts for broadcasting organizations. WIPO is
responsible for the administration of the convention jointly
with the International Labour Organization (ILO) and the
United Nations Educational, Scientific and Cultural
Organization (UNESCO).

[Link]

[Link] Treaty on Intellectual Property

in Respect of Integrated Circuits
The Washington Treaty was adopted in 1989 and provides
protection for the layout designs (topographies) of integrated
circuits. The Treaty has not yet entered into force, but has
been ratified or acceded to by the following States: Bosnia
and Herzegovina, Egypt and Saint Lucia.
[Link]

8​[Link]
sions 

The areas of intellectual property that it covers are: ​copyright​ and ​related rights​ (i.e. the
rights of performers, producers of sound recordings and broadcasting organizations);
trademarks​ including service marks; ​geographical indications​ including appellations of origin;
industrial designs​; ​patents​ including the protection of new varieties of plants; the
layout-designs of integrated circuits​; and ​undisclosed information​ including trade secrets and
test data.

The three main features of the Agreement are:

● Standards​. In respect of each of the main areas of intellectual property covered by the
TRIPS Agreement, the Agreement sets out the minimum standards of protection to be
provided by each Member. Each of the main elements of protection is defined, namely
the subject-matter to be protected, the rights to be conferred and permissible exceptions
to those rights, and the minimum duration of protection. The Agreement sets these
standards by requiring, first, that the substantive obligations of the main conventions of
the WIPO, the Paris Convention for the Protection of Industrial Property (Paris
Convention) and the Berne Convention for the Protection of Literary and Artistic Works
(Berne Convention) in their most recent versions, must be complied with. With the
exception of the provisions of the Berne Convention on moral rights, all the main
substantive provisions of these conventions are incorporated by reference and thus
become obligations under the TRIPS Agreement between TRIPS Member countries. The
relevant provisions are to be found in Articles 2.1 and 9.1 of the TRIPS Agreement, which
relate, respectively, to the Paris Convention and to the Berne Convention. Secondly, the
TRIPS Agreement adds a substantial number of additional obligations on matters where
the pre-existing conventions are silent or were seen as being inadequate. The TRIPS
Agreement is thus sometimes referred to as a Berne and Paris-plus agreement.
● Enforcement.​ The second main set of provisions deals with domestic procedures and
remedies for the enforcement of intellectual property rights. The Agreement lays down
certain general principles applicable to all IPR enforcement procedures. In addition, it
contains provisions on civil and administrative procedures and remedies, provisional
measures, special requirements related to border measures and criminal procedures,
which specify, in a certain amount of detail, the procedures and remedies that must be
available so that right holders can effectively enforce their rights.
● Dispute settlement. ​The Agreement makes disputes between WTO Members about the
respect of the TRIPS obligations subject to the WTO's dispute settlement procedures.
In addition the Agreement provides for certain basic principles, such as national and
most-favoured-nation treatment, and some general rules to ensure that procedural difficulties in
acquiring or maintaining IPRs do not nullify the substantive benefits that should flow from the
Agreement. The obligations under the Agreement will apply equally to all Member countries, but
developing countries will have a longer period to phase them in. Special transition arrangements
operate in the situation where a developing country does not presently provide product patent
protection in the area of pharmaceuticals.

The TRIPS Agreement is a minimum standards agreement, which allows Members to provide more
extensive protection of intellectual property if they so wish. Members are left free to determine the
appropriate method of implementing the provisions of the Agreement within their own legal system
and practice.