True or False: The principle reason behind TRIPs is to clarify and harmonize the trade-related aspects of intellectual property.

The statement is true because the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) was established to create a cohesive framework for the protection and enforcement of intellectual property rights (IPR) across member countries of the World Trade Organization (WTO). The core objective of TRIPs is to harmonize the various international standards related to intellectual property, which were often inconsistent and varied significantly from country to country. By providing clearer guidelines and obligations, TRIPs aims to ensure that all members adhere to a set standard of protection for copyrights, patents, trademarks, and trade secrets. This harmonization helps facilitate international trade by offering more predictability and security for businesses operating in multiple jurisdictions, thereby allowing them to operate with a clearer understanding of the IPR landscape. The other options do not capture the broader intent and scope of TRIPs.