- Research/Scholar Paper name – Universal Minimum Standards Under Trips: Exploring the Challenges in Compliance Faced by Developing and Least Developed Countries
- Author: Anita Bharathi A.S.E
- Institution: Tamil Nadu National Law University
- Affiliation: Centre for the Study of Dispute Resolution
- Date of Publication: 03/04/2021
The TRIPS agreement also referred to as the minimum standards agreement lays down the minimum standards that should be met by its member countries who enjoy intellectual property rights over their products and processes. These standards which were created with the objective to have a uniform structure of intellectual property rights do not in fact provide the accessibility for the same to all its member countries. The leeway of the transitional period is being extended again and again by the least developed countries which prove their inability to comply with the same. In addition to the inability, the minimum standards also disturb the intellectual growth of these least developed countries by mandating the minimum period of production of a product which is in most cases not convenient for the country’s internal growth. This deficiency of the standards takes a toll on medical technology-related products that are now forced to make a compromise which in turn destroys the purpose of their creation. However, TRIPS by ignoring these situations of the least developed countries has worsened their economic development by hitting on the innovation cycle that boosts up the growth of medical technologies based on needs. Therefore, a critical evaluation of these standards at par with the economic conditions of the countries is essential to merit or demerit the standards.