- TRIPS came into effect on January 1, 1995.
- Key Provisions:
- Establishes minimum level of protection for intellectual property.
- Ensures adequate standards of protection in all member countries.
- Based on WIPO agreements (Paris Convention, Berne Convention).
- Added new or higher standards for IPR protection.
- Requires governments to ensure IPRs can be enforced under their laws.
- Penalties for infringement must be tough enough to deter violations.
- Procedures must be fair and equitable, without unreasonable delays.
- Includes provisions on technology transfer, especially to developing countries.