The paper will present the evolution of the TRIPS Agreement, which I will argue has now entered a third phase ("TRIPS 3.0"), one that is informed by calibration narratives. The intellectual components of the calibration process that is underway are many: (a) the recognition that developing countries are very different, from Chile to China, from Bolivia to Burkina Faso or from Egypt to India, and consequently may need different implementations of TRIPS, instead of "cookie cutter" norm implants; (b) the recognition that below certain developmental thresholds, the introduction of high levels of intellectual property protection will not generate positive impacts (as was evidenced by the extension of transitional periods available for least-developed WTO members); (c) the recognition that intellectual property protection is necessary to develop innovation and foreign direct investment (including technology transfers) but in itself is insufficient to achieve developmental objectives; (d) consequently, the recogniti