Which of the Following Statements About the Trade Related Aspects

question 76

Multiple Choice

Which of the following statements about the Trade Related Aspects of Intellectual Property Rights (or TRIPS) agreement is NOT true?

• A) It was designed to oversee enforcement of much stricter intellectual property regulations, beginning in 1995.
• B) It obliged WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years.
• C) It directed rich countries to comply with its rules of intellectual property protection within five years.
• D) It provided the very poorest countries 10 years to comply with its rules of intellectual property protection.

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Definitions:

Remedy

A means of legal reparation or correction, often through compensation or specific performance in law.

Contract Law

The body of law that governs the creation, enforcement, and termination of contracts between parties.

Breach of Contract

A breach of contract occurs when one party fails to perform any term of the contract without a legitimate legal excuse, thus violating the agreement.

Damages

Financial compensation awarded to a person as a remedy for harm caused by another's act or failure to act.