Syllabus: GS-II, Subject: Polity, Topic: Institutions, Issue: Law Commission recommendations
Context: The 22nd Law Commission recommended that a new legislation be introduced to protect trade secrets.
Gist:
- Trade secrets are intellectual property rights on confidential information that may be sold or licensed.
- Unlike other forms of intellectual property, which are limited in duration, trade secrets can be protected indefinitely.
- New legislation should have exceptions relating to whistleblower protection, compulsory licensing, government use, and public interest.
| Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement:
● International legal agreement between all the member nations of the World Trade Organization in 1995. ● It sets out the minimum level of protection that countries must provide for intellectual property rights (IPR). ● Includes wide range of IPRs: Copyrights, Trademarks, Geographical indications, etc. |
