The World Trade Organization ("WTO") has agreed to
extend the deadline of the transition period of the Agreement on
Trade-Related Aspects of Intellectual Property Rights
("TRIPS") for the next 13-years, i.e. till 1 July 2034,
in respect of the Least Developed Countries ("LDCs"). The
WTO originally set the transition period up to 1 July 2021. It is
also significant to note that early in 2005 and then 2013, the WTO
has extended the transition period.
The TRIPS Agreement allows members to provide extensive
protection of the intellectual property. The transition period
given under Article 66.1 of the TRIPS Agreement is a period during
which the LDCs do not have to provide the intellectual property
rights protection according to the minimum requirements of the
TRIPS Agreement. Under the agreed decision of WTO members, it would
not require the LDCs to apply for any other provisions except for
Articles 3, 4, and 5 of the TRIPS Agreement.
