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Trade Agreements/Preferential Duty Programs
What does the acronym "TRIPS" mean?
The acronym "TRIPS" refers to "trade–related intellectual property issues". The TRIPS Agreement is part of the GATT-WTO system. It breaks new ground by not dealing with trade in goods strictly. It fills the IPR gap within GATT by establishing minimum levels of protection for copyrights, trademarks, geographical indications, industrial designs, patents, plant varieties, computer chip layout designs, and trade secrets. It couples these IPR protections with the requirement that WTO embers adopt effective enforcement mechanisms.
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