![]() These are “intellectual property rights”. 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 creations can take many different forms, such as artistic expressions, signs, symbols and names used in commerce, designs and inventions. "Intellectual property" refers to creations of the mind. The Agreement is legal recognition of the significance of links between intellectual property and trade. The TRIPS Agreement plays a critical role in facilitating trade in knowledge and creativity, in resolving trade disputes over intellectual property, and in assuring WTO members the latitude to achieve their domestic objectives. How to enhance this value and how to facilitate the flow of knowledge-rich goods and services across borders have become integral considerations in development and trade policy. Innovation, creativity and branding represent a large amount of the value that changes hands in international trade today. The idea of trade, and what makes trade valuable for societies, has evolved beyond simply shipping goods across borders. Back to top Origins: into the rules-based trading system.
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