♤ "Intellectual property" refers to creations of the mind. These creations can take many different forms, such as artistic expressions, signs, symbols and names used in commerce, designs and inventions. Governments grant creators the right to prevent others from using their inventions, designs or other creations — and to use that right to negotiate payment in return for others using them. These are “intellectual property rights”.

♤ The WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), negotiated during the 1986-94 Uruguay Round, It is adhered by all member of the WTO and is effective since 1995.

♤ Introduced intellectual property rules into the multilateral trading system for the first time. The TRIPS Agreement covers five broad areas:

o how general provisions and basic principles of the multilateral trading system apply to international intellectual property

o what the minimum standards of protection are for intellectual property rights that members should provide

o which procedures members should provide for the enforcement of those rights in their own territories.

o how to settle disputes on intellectual property between members of the WTO special transitional arrangements for the implementation of TRIPS provisions.

1.18. United Nations Commission on International Trade Law (UNCITRAL)

♤ Established in 1966, it is a subsidiary body of the General Assembly of the United Nations with the general mandate to further the progressive harmonization and unification of the law of international trade.