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The World Trade Organization is of intellectual property rights, and


the only international organization ensuring that measures and
deals with global rule on trade procedures to enforce intellectual
between nations. To ensure that
property rights do not themselves
the trade flows smoothly,
predictably, and freely as possible become barriers to legitimate
is its main function. The WTO as an trade.
opening for trade of products has 3. The current theoretical
its goals to help producers of foundations of international law
goods and services, exporters, and are inadequate to explain or
importers establish their business address the interrelationship
in order to provide trade for the among three concurrent and
benefits of all nations. The heart of interrelated phenomena: (1)
this organization is the WTO economic globalization, (2) legal
agreements which are signed by globalization,i.e.the harmonization
bulk of leaders of nations. of legal rules and norms among
Furthermore, WTO can: cut living sovereign entities, a process that
costs and raise living standards, itself frequently results from
settle disputes and reduce trade economic globalization; and (3)
tensions, stimulate economic the changing role of the nation-
growth and employment, cut the state as the principal foundation of
cost of doing business international law, and as the
internationally, encourage good exclusive protector of the legal,
governance, help countries economic, and security
develop, give the weak stronger expectations of the individuals
voice, support the environment living within it. The only manner in
and health, contribute to peace and which to understand these
stability and be effective without concurrent phenomena is through
hitting the headlines. a unified theory of international
law that recognizes the linkages
between each of these historical
2. TRIPS is arguably the most phenomena. Each phenomenon
important and comprehensive impacts the other process—and is
being impacted in return—in a
international agreement on
dialectical manner. These three
intellectual property rights. It aims processes require a revision of our
at giving an incentive that reward conception of international law as
innovation and creation. There is being solely the creation of states,
at the same time the need to strike either among themselves or within
a balance with diffusion and access global legal institutions such as the
United Nations or the World Trade
to information according to
Organization.
societal values. It is also important
as it reduce impediments to
international trade, promotion of
effective and adequate protection
4. Dumping is a term used in the identical or very similar models or
context of international trade. It's types
when a country or
company exports a product at a
7. There are two types of investors: natural
price that is lower in the foreign and legal persons. For natural persons,
importing market than the price in investment agreements generally base
the exporter's domestic market. nationality exclusively on the law of the
state of claimed nationality. Some
Because dumping
investment agreements also introduce
typically involves substantial alternative criteria, such as a requirement of
export volumes of a product, it residency or domicile. With respect to a legal
often endangers the financial persons is for purposes of the
viability of the product's agreements.
manufacturers or producers in the
8. The definition of investment in
importing nation. international investment law is of
5. Dispute settlement is the central pillar fundamental importance to the
of the multilateral trading system, and question of whether a tribunal has
the WTO’s unique contribution to the jurisdiction over the subject matter of
stability of the global economy. the dispute. Under Intenational
Without a means of settling disputes, Investment Law, investment shall
the rules-based system would be less
consists of the four elements; (1)
effective because the rules could not
be enforced.. a contribution of money or assets
(2) a certain duration over which
6. The term like product is defined as the project to be implemented,
a product, which is identical, i.e. (3) an element of risk and (4) a
alike in all respects, to the product contribution to the economic
under consideration, or in the development of the host state.
absence of such a product, another
product, which has characteristics 9. According to Rome Statute,
closely resembling those of the International criminal court is a
product under consideration. permanent international court
However, within the like product, established to investigate,
there will invariably be many prosecute and try individuals
types or models. While many accused of committing the most
variations are possible, the serious crimes of concern to the
underlying principle is that the international community as a
comparison must be as precise as whole, namely crimes of genocide,
possible. Consequently, a variation crimes against humanity, war
that has an appreciable impact on crimes and the crime of
the price or the cost of a product aggression. This International
would normally be treated as a Criminal Court can only intervene
different model or type. For where a State in unable or
calculation purposes, authorities unwilling genuinely to carry out
will then normally compare the investigation and prosecute
the perpetrators. The main
purpose of this court is to put an
end to impunity of the
perpetrators of the most serious
concerns international community
as a whole.

10. When a State becomes a party to


the Rome Statute, it agrees to
submit itself to the jurisdiction of
the ICC with respect to the crimes
enumerated in the Statute. The
Court may exercise its jurisdiction
in situations where the alleged
perpetrator is a national of a State
Party or where the crime was
committed in the territory of a
State Party. Also, a State not party
to the Statute may decide to accept
the jurisdiction of the ICC.

11. It is widely acknowledged that the


entry into force of the Rome Statute
and the subsequent establishment of
the International Criminal Court
were significant steps towards ending
impunity for the commission of
international crimes and thus, to
promote peace and reconciliation.
‘There will be no peace without
justice’ was the motto that was
coined and incessantly repeated to
provide legitimacy for the Court’s
mandate