- TRIPS came into effect on January 1, 1995.
- Role:
- Establishes minimum level of protection for intellectual property.
- Ensures adequate standards of protection in all member countries.
- Covers patents, copyrights, trademarks, trade secrets, geographical indications, industrial designs.
- Requires member countries to enforce IPRs under their laws.
- Penalties for infringement must be tough enough to deter violations.
- Includes provisions on technology transfer, especially to developing countries.