With reference to the Trade-Related Aspects of Intellectual Property Rights (TRIPS), consider the following statements: 1. It aims to establish minimum standards for protecting intellectual property rights. 2. It is one of the key agreements under the United Nations Conference on Trade and Development (UNCTAD). 3. Environmental patents are not covered under the TRIPS Agreement. How many of the statements given above are correct? |ForumIAS

Q. With reference to the Trade-Related Aspects of Intellectual Property Rights (TRIPS), consider the following statements:
1.It aims to establish minimum standards for protecting intellectual property rights.
2.It is one of the key agreements under the United Nations Conference on Trade and Development (UNCTAD).
3.Environmental patents are not covered under the TRIPS Agreement.
How many of the statements given above are correct?

[A] Only one

[B] Only two

[C] All three

[D] None

Answer: A

Notes:

Explanations –

Statement 1 is correct. The TRIPS Agreement sets global minimum standards for the protection and enforcement of intellectual property rights across WTO member nations.

Statements 2 and 3 are incorrect. TRIPS is a key agreement under the World Trade Organization (WTO). TRIPS provides patent protection for inventions in all fields of technology, including environmentally sound technologies, as long as they meet patentability criteria.

Source: The Hindu

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