UU One way a rights holder can commercially exploit their intellectual property rights is to issue a license to another person to use the rights. With markets where ideas and innovations associated with intellectual property are constantly evolving, careful monitoring of developments is required. The scope of protection and enforcement of these rights varied widely around the world; and as intellectual property became more important in trade, these differences became a source of tension in international economic relations. The TRIPS Agreement plays a key role in facilitating the trade in knowledge and creativity, in resolving trade disputes over intellectual property and in ensuring that WTO members are free to achieve their national objectives.
The second part of the TRIPS Agreement analyzes the different types of intellectual property rights and how to protect them. Risk management and corporate social responsibility
y) could be applied to intellectual property to prevent the infiltration of counterfeit and substandard products into legitimate supply chains. The Agreement is a legal recognition of the importance of links between intellectual property and trade. The Commission is drawing up a list of economists, researchers and experts specializing in the economics of intellectual property to participate in the workshops.
However, to make them more effective, the Commission seeks stronger cooperation between authorities at all levels in the fight against intellectual property infringement, and is working to prevent infringing activities from undermining sustainable growth and employment in the EU. In the action plan, the Commission intends to reorient its intellectual property rights policy towards better enforcement of intellectual property rights by all economic actors. Customer advice focuses on how best to protect the intellectual property that the client has or would like to develop. The TRIPS Agreement is the only international agreement that describes in detail the application of intellectual property rights, including rules for obtaining evidence, interim measures, protective measures, damages and other sanctions.
For the protection of intellectual property rights to be meaningful, WTO members must give rights holders the tools they need to ensure that their intellectual property rights are respected. It means that all EU countries will have a similar set of measures available for rightholders to defend their intellectual property rights. Finally, intellectual property enforcement involves protecting the intellectual property owner from infringing uses. It says that courts should have the right, under certain conditions, to order the disposal or destruction of property that infringes intellectual property rights.
