With regard to the implementation of the agreement, developed countries had one year to bring their laws and practices into line with the agreement. This period has been extended to five years for developing and countries that have moved from a centralized economy to a market economy, and to 11 years for the least developed countries. TRIPS is unique in these anti-intellectual property agreements because WTO membership is a “package agreement,” meaning that WTO members are not free to choose between agreements. They are governed by all multilateral WTO agreements, including trips. Intellectual Property Economics – Primer A series of informal guides to support technical assistance of economic concepts and analyses for political issues related to intellectual property and trade (1) Relevant concepts (pdf). (2) (Shortly) In addition to the basic intellectual property standards established by the TRIPS Agreement, many nations have participated in bilateral agreements to establish a higher level of protection. This collection of standards, known as TRIPS or TRIPS-Plus, can take many forms. [20] Among the general objectives of these agreements are: Daniele Archibugi and Andrea Filippetti[34] argue that the importance of TRIPS in the process of developing and disseminating knowledge and innovation has been overestimated by its supporters. This was supported by the FINDINGs of the United Nations that many low-protection countries regularly benefit from significant foreign direct investment (FDI). [35] Analysis of OECD countries in the 1980s and 1990s (which extended the lifespan of drug patents by 6 years) showed that, although the total number of registered products increased slightly, the average innovation index remained unchanged. [36] On the other hand, J-rg Baten, Nicola Bianchi and Petra Moser (2017)[37] find historical evidence that compulsory licensing – a key mechanism for weakening IP rights under Article 31 of TRIPS – can effectively lead to the promotion of inventions by increasing the threat to competition in areas of low competition. They argue, however, that the benefits of weakening intellectual property rights depend heavily on the ability of governments to make a credible commitment to use them only in exceptional cases, since companies can invest less in research and development if they expect repeated episodes of mandatory licensing.

Review of the terms of application of members Members must inform the TRIPS Council of their relevant laws and regulations. This will help the Council to review the functioning of the agreement.