The Treaty of Versailles established the terms of peace after World War I. It was negotiated at the Paris Peace Conference in 1919 and signed by the Allied and Associated Powers and Germany. Key terms included Germany accepting responsibility for starting the war, losing territory and colonies, and paying extensive reparations. The treaty also established the League of Nations to promote collective security. However, many of Wilson's proposed 14 Points were rejected. Wilson campaigned for ratification in the U.S. but faced opposition and the treaty was ultimately rejected by the Senate, leaving the U.S. isolated from European affairs in the postwar period.