The WTO Agreement on Intellectual Property boils down to rules for trade and investment in ideas and creativity. The rules govern how copyrights, patents, trademarks, geographical names used to identify products, industrial designs, layout schemes of integrated circuits, and undisclosed information such as „intellectual property“ trade secrets are to be protected when it comes to trade. In April 1994, GATT members concluded a Uruguay Round agreement in Morocco establishing a new organization called the WTO. Countries bring disputes before the WTO if they believe their rights under the agreements are violated. The judgements of specially appointed independent experts are based on interpretations of each country`s agreements and obligations. Studies show that the WTO has boosted trade, and that trade barriers would be higher without the WTO.  The WTO has greatly influenced the text of trade agreements, as „almost all recent [preferential trade agreements (ACs)] explicitly refer to the WTO, often dozens of times in several chapters. In many of these LEAs, we find that essential parts of the treaty`s wording – sometimes most of a chapter – are copied verbatim from a WTO agreement.  The United Nations` Sustainable Development Goal 10 also referred to WTO agreements as instruments to reduce inequalities.  With these agreements, WTO Members apply a non-discriminatory trading system in which their rights and obligations are defined. Each country receives a guarantee that its exports will be treated fairly and consistently in the markets of other countries. .
Wto Agreement Objectives
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