General Agreement on Tariffs and Trade (GATT)

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Business› Finance

Personal Finance

A General Agreement on Tariffs and Trade was signed in 1947 to provide an international forum to encourage free trade, reduce tariffs, and provide a mechanism for resolving trade disputes.

The Uruguay Round Agreements Act was ratified by Congress in 1994 to foster trade by cutting international tariffs, standardizing copyright and patent protection, and liberalizing trade legislation.

Law› Intellectual Property

Patent

An agreement among industrialized nations that contains the Trade-Related Aspects of Intellectual Property Rights (TRIPs) provisions. To comply with TRIPs, Congress amended 35 U.S.C. 104 under which proof of date of invention in a foreign country is allowable if the country is a North American Free Trade Agreement (NAFTA) country for events after December 8, 1993, or a World Trade Organaization (WTO) country for events after January 1, 1996. MPEP 2138.02.

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