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Synopsis The changeover of world trade regime from the dispensation of the General Agreement on Trade and Tariff (GATT) to the more universal and organised World Trade Organisation (WTO) has however created several hurdles for the underdeveloped and developing countries who are not prepared for the harsh terms and conditions prescribed for membership. This is all the more evident in the course of the last two or three WTO meetings, namely at Seattle and at Doha. The developing countries are also concerned about the regimes which govern patents, intellectual copyrights and pharmaceuticals monopolies. A clear and lucid discussion of these issues is attempted in the following pages and it would be hoped that the materials brought together for this purpose would serve not only the interested students and researchers in the area but also the economist, political analyst and social scientist in general.