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Consider the following statements.
1. Trade-Related Aspects of Intellectual Property Rights (TRIPS) was promoted by the World Trade Organization in 1995 for uniform global IPR rules.
2. TRIPS does not have a provision to enable governments to enforce ‘compulsory licensing’.
Which of the above statements is/are correct?
  • a)
    1 only 
  • b)
    2 only 
  • c)
    Both 1 and 2 
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements.1. Trade-Related Aspects of Intellec...
Trade-Related Aspects of Intellectual Property Rights (TRIPS) regime was promoted by the World Trade Organization in 1995 for uniform global IPR rules. TRIPS is founded on the principle of “product patents”.
TRIPS does have a provision to enable governments to enforce ‘compulsory licensing’. They can demand that an innovator company must allow domestic, lower cost, producers to increase the supply of the drug in an emergency, with compensation to the inventor of course.
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Most Upvoted Answer
Consider the following statements.1. Trade-Related Aspects of Intellec...
Intellectual property rights through legal measures.

Both statements are false.

1. Trade-Related Aspects of Intellectual Property Rights (TRIPS) was indeed promoted by the World Trade Organization in 1995 to establish global standards for intellectual property rights. However, the aim of TRIPS was not to create uniform rules, but rather to strike a balance between protecting intellectual property rights and ensuring access to knowledge and technology.

2. TRIPS does have provisions to enable governments to enforce intellectual property rights through legal measures. It sets out minimum standards and obligations that member countries must adhere to in terms of intellectual property protection, enforcement, and remedies. It also allows countries to adopt measures necessary to protect public health and promote access to medicines.

In summary, TRIPS was meant to establish global standards for intellectual property rights, and it does provide provisions for governments to enforce these rights through legal measures.
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Consider the following statements.1. Trade-Related Aspects of Intellectual Property Rights (TRIPS)was promoted by the World Trade Organization in 1995 for uniform global IPR rules.2. TRIPS does not have a provision to enable governments to enforce ‘compulsory licensing’.Which of the above statements is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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