Impacts of TRIPS on Socio-economic Development of Developing Countries - Case Study Example

The TRIPS agreement also set forth obligations for the violations and for the enforcement of property rights. In general, the TRIPS agreement contained various provisions which also provided some degree of flexibility and room for different countries to protect their own patent and intellectual properties. Various reports from experts and interest groups are of the opinion that the TRIPS seem to favor the developed countries more than the developing nations and that the TRIPS is not the so-called equalizer that some countries are claiming it to be.

Nevertheless, the ultimate goal of the TRIPS has been on securing the equal protection of intellectual property rights for member nations. The fact that there are doubts as to its effectiveness in achieving these goals is an important cause for concern. This study is now being conducted in order to establish the impact of the TRIPS on developing nations. For centuries, the intellectual property systems grew significantly in relation to the needs of different countries. On a more international scale, the management of intellectual property rights (IPRs) was only set forth towards the end of the 19th century.

At the moment, the WIPO is one of 16 agencies of the United Nations; and its function is very much devoted to the protection of intellectual property through the cooperation of different states.  It is also involved in the management of the multilateral treaties concerned with the legal and administrative aspects of intellectual property.