TRIPs is “Trade Related Aspects of Intellectual Property” and one of the three core agreements in the WTO. Amongst other things it guarantees the existence and minimum term of patents for pharmaceuticals. This proposal is completely compatible with TRIPs because it does not require the abolition of patents. Instead, it offers a simple process to upgrade (or even reuse) the current monopoly patent system to create this new system of remuneration rights via strong incentives for voluntary licensing of existing patents.
