TRIPS AGREEMENT

Abstract

Beyond merely transporting goods around through borders the notion of commerce and trade, and what tends to make trade worthwhile to societies, has developed. Innovation, creative thinking and brand recognition represent a great deal of the significance of today's international trade that is changing hands. In development and trade policy, how to significantly improve this worth and how to manage the understanding of knowledge-rich products and services along all borders are becoming integral factors to consider. The TRIPS Agreement discharges a significant function in promoting trade in information and innovation, in settling intellectual property trade conflicts and in providing WTO members states with the ability to pursue their domestic goals. A significant link between trade and intellectual property is this agreement that holds legal recognition as well. This paper aims to elaborate the meaning of TRIPS as well as its emergence in world of trade and commerce.