What Is The Trips Agreement Why Was It Established

[39] The TRIPS Agreement allows for compulsory licensing at a country`s discretion. U.S. free trade agreements with Australia, Jordan, Singapore, and Vietnam have limited the application of compulsory licenses to emergencies, antitrust remedies, and cases of non-commercial public use. [39] Article 40 of the TRIPS Agreement states that certain practices or licensing conditions relating to intellectual property rights that restrict competition may harm trade and impede the transfer and dissemination of technology (paragraph 1). Member States may, in accordance with the other provisions of the Agreement, take appropriate measures to prevent or control abusive and anti-competitive practices in the licensing of intellectual property rights (paragraph 2). The Agreement provides for a mechanism where by which a country wishing to take action against practices involving companies of another Member State shall enter into consultations with that other Member State and publish publicly available non-confidential information relevant to the matter in question and other information available to that Member, subject to national law and the conclusion of mutually beneficial information. can exchange satisfactory agreements on the preservation of its confidentiality through the application. (paragraph 3). . . .