Considering the emerging multilateral trading systems, a WTO cell has been set up under the Market Research Division. The objectives of this initiative are primarily to enhance the capacity of the industry in understanding the dynamics of changing global trade scenario under WTO regime. This is the first booklet on subject "Agreement on Trade Related Aspects of Intellectual Property Rights, including Trade in Counterfeit Goods (TRIPS)", from WTO cell. It provides a simple but comprehensive explanation of the fundamental concepts of TRIPS and is in the form of answers to commonly asked questions. I hope that this booklet will serve as a preliminary booklet on TRIPS related issues.