Q. Consider the following statements with reference to Trade-Related Aspects of Intellectual Property Rights (TRIPS):

Which of the statements given above is/are correct?

1 only

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2 only

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Both 1 and 2

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Neither 1 nor 2

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Solution

The correct option is A 1 only
Explanation:

Statement 1 is correct. The TRIPS Agreement makes protection of intellectual property rights an integral part of the multilateral trading system, as embodied in the WTO. The agreement is often termed one of the three “pillars” of the WTO, the other two being trade in goods (the traditional domain of the GATT) and trade in services.

Statement 2 is incorrect. The clause of compulsory licensing in the Indian Patents is as per provisions of TRIPS. Compulsory licensing is when a government allows someone else to produce a patented product or process without the consent of the patent owner or plans to use the patent-protected invention itself. It is one of the flexibilities in the field of patent protection included in the WTO’s agreement on intellectual property — the TRIPS (Trade-Related Aspects of Intellectual Property Rights) Agreement.

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Q. Consider the following statements with reference to Trade-Related Aspects of Intellectual Property Rights (TRIPS): Which of the statements given above is/are correct?

Q. Consider the following statements with reference to Trade-Related Aspects of Intellectual Property Rights (TRIPS):

Which of the statements given above is/are correct?