Which of the following statements is/are correct with reference to the “Trade Related Intellectual Property Rights (TRIPS)”?

Which of the following statements is/are correct with reference to the “Trade Related Intellectual Property Rights (TRIPS)”?

A. It is an international legal agreement between all the member nations of the World Trade Organization (WTO).

B. It establishes minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations.

C. Both A & B

D. None of these

Explanation:

The United States will support an initiative at the World Trade Organisation (WTO) to waive Trade Related Intellectual Property Rights (TRIPS) protection for COVID-19 vaccines. The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). It establishes minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations.