Today, as the world heads toward the so-called Millennial Round, the mood is marred by the legacy of TRIPs. There is a mood of disaffection amongst developing countries, a perception of imbalance in the trading system, which has crystallized around TRIPs and the obligations it has imposed. But the good news on TRIPs for developing countries is that the next Round is going to be minimal rather than millennial in its impact.