WORLD INTELLECTUAL PROPERTY ORG. (WIPO) (Syllabus: GS Paper 2– IR)

Context: Member countries of the World Intellectual Property Organization (WIPO) ended a five-day meeting recently in Geneva, about a new treaty regarding Intellectual Property and Genetic Resources, Traditional Knowledge and Folklore. 

• This new treaty, if agreed on, could ensure benefits to indigenous communities that have protected genetic resources and are knowledge holders of how these can be used. Though these are governed by the Convention on Biological Diversity (CBD), benefits have been rare till date.

World Intellectual Property Organization (WIPO)

• About: It is the global forum for intellectual property (IP) services, policy, information, and cooperation.
• Formation: 1967.
• Funding: It is a self-funding agency of the United Nations. It is one of the 15 specialized agencies of the United Nations (UN).
• Members: 193 members.
• Headquarters: Geneva, Switzerland.
• Mission: To lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.