This study searching on the basic principles and provisions established worldwide to protect intellectual property rights in foreign markets, and whether Iraqi intellectual property laws have incorporated with those principles and provisions. Such principles and provisions have elaborated throughout significant numbers of international agreements which they are lastly accomplished in the TRIPS Agreement in 1995. A state, without providing minimum protection as established TRIPS Agreement, may not have a safe and attractive market for international trade. For this reason, most of the developed and developing countries adhere intellectual property system in which the international commitments of TRIPS Agreement adopted to inhibit barriers of international trades related to IPR. Though Iraq has observer status and its membership is not yet approved in TRIPS Agreement, it has initiated to amend IP laws based on the requirements of TRIPS. After a comprehensive amendment, especially, those amendments that have been done by The Coalition Provisional Authority (CPA) in 2004, the Iraqi application of being a member state in TRIPS Agreement is deserved to be approved. Some minor changes have remained to be done as discussed in this study, this may rapid the approvement of Iraqi membership in TRIPS Agreement.