[Nirmalya Syam and Shirin Syed] Abstract: Least developed countries (LDCs) benefit from specific flexibilities under the World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), including an extended transition period for implementation of the agreement. These flexibilities cease to apply when countries graduate from the LDC category. Cambodia, Djibouti, Senegal and Zambia are among the countries that have recently started the graduation process, which consists of a series of stages over several years and involves analysis of quantitative and qualitative information, including the expected impacts of graduation. In that context, this study analyses the policy and developmental implications for these countries of no longer benefitting from the LDC-specific provisions of the TRIPS Agreement.