The document discusses the history and development of intellectual property (IP) rights and international institutions governing IP. It traces the evolution from the Bretton Woods Conference in 1944 establishing institutions for international trade and finance, to the World Trade Organization (WTO) being formed in 1995 which established the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) setting minimum global standards for IP regulations. It then defines different types of IP including patents, trademarks, designs, geographical indications, and copyrights. Finally, it provides more details on patent requirements and categories of patents.