Answer:
Current issues in intellectual property
Ideas and knowledge are an increasingly important part of trade. Many products that used to be traded as low-technology goods or commodities now contain a higher proportion of invention and design in their value. Films, music recordings, books, computer software, on-line services, clothing, food, plants, biotechnology products and many others are bought and sold because of the information, creativity and identity they contain — not usually because of the plastic, metal, cloth, paper or other material used to make them.
The WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), negotiated in the 1986–94 Uruguay Round, introduced intellectual property rules into the multilateral trading system for the first time. It’s one of the three main areas of work in the WTO, alongside trade in goods and services. The TRIPS Council’s job is to monitor how countries are applying the TRIPS Agreement and to discuss issues that arise from that.
Explanation:
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