Trips Agreement And Sri Lanka

Oct
2021
12

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TRIPS conditions that impose more standards beyond TRIPS were also discussed. [38] These free trade agreements contain conditions that limit the ability of governments to create competition for generic drug manufacturers. In particular, the United States has been criticized for encouraging protection far beyond the standards imposed by TRIPS. U.S. free trade agreements with Australia, Morocco, and Bahrain have extended patentability by requiring patents to be available for new uses of known products. [39] The TRIPS Agreement allows for the issuance of compulsory licences at the discretion of a country. The more ad hoc conditions provided for in the free trade agreements between the United States and Australia, Jordan, Singapore and Vietnam have limited the application of compulsory licenses to emergency situations, antitrust measures and cases of non-commercial public use. Thus, most industrialized countries have established well-developed intellectual property systems that use strong patent systems and breeders` rights. The main reason why developed countries choose patents for protection is their technological capabilities and the immense financial benefits that a patent system is expected to generate. While developing countries have weak regimes due to a lack of financial and technical support. The Agreement on trade aspects of intellectual property rights (TRIPS) is an international agreement between all member states of the World Trade Organization (WTO).

It establishes minimum standards for the regulation of different forms of intellectual property (IP) by national governments, as applied to nationals of other WTO member countries. .