The World Trade Organization’s (WTO) Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) will meet virtually today. The TRIPS
The World Trade Organization’s (WTO) Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) will meet virtually today.
The TRIPS Council oversees the application of the TRIPS agreement, an international pact governing intellectual property-related trade. The council monitors WTO member compliance with the agreement.
Today’s meeting will likely involve discussion about intellectual property rights (IPR) for micro-, small and medium-sized enterprises (MSMEs) in green tech. The council sees a lack of access to support from public agencies as a major challenge for MSMEs seeking increased intellectual property protection. For MSMEs, which represent over 50% of employment in emerging economies, IPR protection is crucial to labour security and elevating innovative thinking towards green technologies.
Expect the TRIPS council to discuss member-states’ support for domestic MSMEs’ IPR. Until recommendations are released, there are a variety of avenues that private enterprises in green technology can already use to obtain IPR support. Internationally, the UN’s Climate Technology Centre and Network acts as a forum for connecting MSMEs while also serving as a repository of IPR-related support and information. At the country level, the WTO will likely continue to encourage member-states to offer free legal assistance and patent process information through domestic IP offices.
Wake up smarter with an assessment of the stories that will make headlines in the next 24 hours. Download The Daily Brief.