W.T.O. Role in Intellectual Property Rights Management
The global intellectual property rights (IPR) regime is managed by the W.T.O. (World Trade Organization).
The W.T.O. administers the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). This agreement sets the international standards for intellectual property protection and ensures its enforcement among member countries.
Understanding the W.T.O.'s Mandate
The W.T.O. is responsible for:
- Establishing minimum standards for various forms of intellectual property.
- Providing a framework for the settlement of trade disputes related to IPR.
- Ensuring that member countries implement and enforce these IP rights effectively.
Comparing with Other Organizations
The other organizations listed have different primary functions:
- IMF (International Monetary Fund): Deals with international monetary cooperation, financial stability, and exchange rates.
- European Union (EU): A regional bloc that harmonizes laws, including IPR, among its members, but does not manage the global regime.
- SAARC (South Asian Association for Regional Cooperation): Focuses on regional cooperation among South Asian countries.
The W.T.O. is the designated international organization for managing the global intellectual property rights regime.
Important Questions from World Trade Organisation (WTO)
After 10 years of deadlock, European Union (EU) is ready to negotiate with India in WTO on which issue related to food security?
The Government of India appointed ______ as the country's G20 Sherpa in September 2021.
Nearly ___________________ countries of the world are currently members of the WTO. (as on June 2014)
Sequence the following different settlement stages of the WTO dispute settlement System.
A. Retaliation
B. Implementation
C. Panel Review
D. Appellate
E. Consultations
Choose the correct answer from the options given below:
Which combination of the following is correct with regard to World Trade Organization (WTO) :
(a) WTO initiates peace process among the member countries to enhance international trade.
(b) WTO avoids the task of “Settlement of Disputes” among the member countries.
(c) WTO administers the “Trade Review Mechanism”.
(d) WTO cooperates in an appropriate manner with the IMF and the World Bank.
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