The World Intellectual Property Organization (WIPO) was created in 1970 to promote the protection of intellectual property worldwide. WIPO seeks to promote IP protection under the convention that established it. The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) requires WTO member states to provide strong protection for intellectual property rights, including minimum standards for many forms of IP regulation. TRIPS was negotiated in 1994 and remains the most comprehensive international IP agreement.