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Introduction
In January 1995, the World Trade Organisation (WTO) was
set up in Geneva to implement, regulate, administer and
monitor the terms of the General Agreement on Tariffs
and Trade (GATT) signed by the founding members in April
1994 at Marrakesh. The WTO today is the largest
organization after the United Nations, with a membership
of 154 countries involved in the management of a major
multilateral treaty affecting all aspects of trade.
India had as a part of the transitory dispensation under
the TRIPS Agreement, ten years to implement a globally
harmonized Intellectual Property Rights (IPR) protection
system. The major component of TRIPS, the patent system
was streamlined and implemented under Indian Patents Act
2005 from the beginning of that year. Since the Act has
been in vogue for the last five years, it would be
worthwhile to review the current status of its
implementation and its impact on the Indian
Pharmaceutical industry.
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