Review of the terms of application of members Members must inform the TRIPS Council of their relevant laws and regulations. This will help the Council to review the functioning of the agreement. The Agreement on Trade-Related Intellectual Property Rights (TRIPS) is an agreement of international law between all World Trade Organization (WTO) member states. It sets minimum standards for the regulation of different forms of intellectual property by national governments, as is the case for nationals of other WTO member states.  The TRIPS agreement was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) between 1989 and 1990 and is managed by the WTO. Article 40 of the TRIPS ON Agreement recognizes that certain practices or licensing conditions related to intellectual property rights that limit competition can have negative effects on trade and impede the transfer and dissemination of technology (paragraph 1). Member States may adopt appropriate measures under the other provisions of the agreement to prevent or control abusive and anti-competitive intellectual property licensing practices (paragraph 2). The agreement provides for a mechanism by which a country intending to take action against such practices involving companies in another Member State will consult with that other Member State and exchange non-confidential information relevant to the public for the issue in question and other information available to that member, subject to domestic law and the conclusion of satisfactory agreements for both parties regarding the applicant`s compliance with its confidentiality (paragraph 3). Similarly, a country whose companies in another Member State are subject to such measures may engage in consultations with that member (point 4). The general objectives of the ON TRIPS agreement are contained in the preamble to the agreement, which echoes the fundamental negotiating objectives of the Uruguay Round, set in the TRIPS zone by the 1986 Punta del Este Declaration and the 1988/89 mid-term review. These objectives include reducing distortions and barriers to international trade, promoting effective and adequate protection of intellectual property rights, and ensuring that measures and procedures to enforce intellectual property rights do not themselves become barriers to legitimate trade. These objectives should be understood in conjunction with Article 7 Objectives, under which the protection and implementation of intellectual property rights should contribute to the promotion of technological innovation and the transfer and dissemination of technology, to the mutual benefit of producers and users of technological knowledge, and in a way that promotes social and economic well-being, and to the balance of rights and obligations. Article 8, entitled ”Principles,” recognizes the right of members to take action for public health and other public interest reasons and to prevent abuses of intellectual property rights, provided these measures are consistent with the provisions of the TRIPS agreement.
An agreement reached in 2003 relaxed domestic market requirements and allows developing countries to export to other countries with a public health problem as long as exported drugs are not part of a trade or industrial policy.  Drugs exported under such regulations may be packaged or coloured differently to prevent them from affecting the markets of industrialized countries.