WTO & TRIPS
- February 23, 2022
- Posted by: admin1
- Category: DPN Topics
WTO & TRIPS
Context- India and South Africa, piloted a proposal to waive key provisions of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement on Covid-19 vaccines, drugs, therapeutics, and related technologies.
- The core idea behind the proposal is that intellectual property (IP) rights such as patents should not become a barrier in scaling up the production of medical products like vaccines, diagnostics and therapeutics essential to combat Covid-19.
- The TRIPS waiver proposal would give immunity to member countries from a legal challenge at the WTO if their domestic Intellectual Property Regulation (IPR) laws suspend or do not enforce IP protection.
- The TRIPS agreement was negotiated in 1995 at the WTO, it requires all its signatory countries to enact domestic law.
- It guarantees minimum standards of IP protection.
- It enables innovators to monetise their intellectual property in multiple countries.
- In 2001, the WTO signed the Doha Declaration, which clarified that in a public health emergency, governments could compel companies to license their patents to manufacturers, even if they did not think the offered price was acceptable.
- This provision, commonly referred to as “compulsory licensing”.
- Under Section 92 of the 1970 Indian Patents Act, the central government has the power to allow compulsory licenses to be issued at any time in case of a national emergency or circumstances of extreme urgency.