TRIPS is the Agreement on Trade-Related Aspects of Intellectual Property Rights administered by the World Trade Organization. It establishes minimum standards of protection for various forms of intellectual property and enforcement procedures. TRIPS requires countries to provide patents, copyrights, trademarks, industrial designs, trade secrets, and geographical indications. It sets rules for fair use exceptions and terms of protection. Disputes are subject to the WTO dispute settlement process. Developing countries received transitional periods to delay full implementation of TRIPS.