Question

The WTO's Agreement on ________ is an attempt to narrow the gaps in the way intellectual property rights are protected around the world and to bring them under common international rules.

a) Trade in Services
b) Trade-Related Aspects of Intellectual Property Rights (TRIPS)
c) Trade Facilitation Agreement
d) Trade-Related Investment Measures (TRIMS)

Answer 1

The correct answer is b) Trade-Related Aspects of Intellectual Property Rights (TRIPS), which is an agreement under the WTO designed to standardize the protection of intellectual property rights globally. The correct option is b.

Step-by-step explanation:

The WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an attempt to narrow the gaps in the way intellectual property rights are protected around the world and to bring them under common international rules.

This agreement is part of a larger effort by the World Trade Organization to address and standardize various trade issues including tariffs, nontariff barriers, services, as well as dispute settlement processes.

The TRIPS Agreement plays a crucial role in the globalization process by setting common standards for intellectual property rights, which are essential for economic growth and are a key component of contemporary issues in international trade. The correct option is b.