"The member countries of WTO have moved to product patent regime under the __________ to meet their obligations under the seven areas covered by the __________ agreement".
The World Trade Organization (WTO) facilitates global trade through various agreements. A significant part of these agreements involves protecting intellectual property rights (IPR), such as patents. The question asks to identify the specific agreement under which WTO member nations transitioned to a product patent regime, fulfilling their commitments across seven key IPR areas.
To answer this, let's look at the options provided:
The transition towards a product patent regime for WTO member countries was driven by the requirements of the TRIPS Agreement. This agreement harmonized intellectual property laws internationally and obligated members to protect inventions through patents. The reference to "seven areas" aligns perfectly with the scope of IP rights covered by TRIPS. Therefore, WTO members adopted this patent system to comply with their TRIPS obligations.
The correct framework that led WTO member countries to implement a product patent regime and address their obligations across the seven specified areas is the TRIPS Agreement.
Which of the following types of FDI includes creation of new assets and production facilities in the country?
| List I | List II |
| (i) Absolute Cost Advantage theory | (a) Raymond Xernon |
| (ii) Comparative Cost Advantage theory | (b) Adam Smith |
| (iii) Factor Endowment theory | (c) David Recardo |
| (iv) Product Life cycle theory | (d) Eli Heckscher |