Question

The WTO's Agreement on which of the following 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. Intellectual Property Rights Enforcement Directive (IPRED)

B. Court of Arbitration of Intellectual Property (CAIP)

C. Trade-Related Aspects of Intellectual Property Rights (TRIPS)

D. Intellectual Property Rights Enforcement and Resolution (IPER)

E. International Body on Intellectual Property (IBIP)

Answer 1

The WTO's Agreement on TRIPS is aimed at aligning intellectual property rights protection worldwide, setting minimum standards for legislation across member states.

It encompasses patents, trademarks, copyrights, and trade secrets to ensure intellectual property is protected and enforced consistently.

The correct answer is: C. Trade-Related Aspects of Intellectual Property Rights (TRIPS)

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.

TRIPS is one of the most comprehensive international agreements on intellectual property protection, encompassing patents, trademarks, copyrights, and trade secrets. The agreement creates a minimum standard for intellectual property legislation in all World Trade Organization member countries, with the goal of harmonizing the protection and enforcement of intellectual property rights globally.

Notably, the establishment of TRIPS has prompted various discussions and critiques, especially concerning its implications for access to medicines in developing countries and its perceived focus on protecting the interests of multinational corporations. Nevertheless, it serves as an important component of international trade law administered by the WTO.