trade frictions. It is quite clear that the present text does not please all parties involved—for example the lack of retroactive ''pipeline" patents is considered a major shortcoming by certain segments of the pharmaceutical and chemical industries; the transition periods for the implementation of IPR reforms are considered excessive by some. Future negotiations will determine to what extent the TRIPS agreement will become an effective force in the promotion of systemic convergence. In its absence, however, the IPR debate at the international level can easily become a discussion about rent shifting. This would be unfortunate because it would preclude a more balanced evaluation of the role that IPR may play in the developing world.

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