One Essay Example | Topics and Well Written Essays - 1000 words

One - Essay Example The Government of Metropoliland continues with its controversial laws by raising taxes for non-alcoholic performance drinks that are not produced, following the country’s traditional method of production, regardless of the country of origin, or the final product’s composition. The Trips agreement with necessary circumspection and discretion does allow for valid use by Third Parties, as compulsory License or government use, without the consent of the patent owner in certain circumstances. Generally speaking, the main criteria could be in terms of voluntary licence on practical marketable specifications and that the compensation paid to the right holder shall be sufficient in such situation, taking into account the fiscal value of the licence held. The Agreement recognizes right of Members to take measures, consistent with its provisions against anti-competitive practices and provides more flexible conditions for the grant of compulsory licences, where a practice has been determined, after due process of law, to be anti-competitive. Trips: Drug Patents, Technical Note: Pharmaceutical patents and the TRIPS Agreement. (2006). According to provisions of World Trade Organisation (WTO) Agreement 1995, member countries should not discriminate between domestic and foreign producers during course of trading. Thus all member countries should be provided equal status to domestic, or foreign trading partners or in other words practice favoured country treatment. (FCT) Metropoliland has sought domestic protection for its indigenous producers, initiated process of bureaucracy and retarded trade promotional efforts by adopting a protectionist policy towards its domestic growers, at the expense of competitive importers. This is against both the letter and spirit of various agreements that govern international trade, affecting potential trade between signatories to such agreements, including State of Metropoliland. If all member countries adopt a similar