What does WIPO stand for?

The correct answer is the second choice, which stands for the World Intellectual Property Organization. WIPO is a specialized agency of the United Nations that focuses on the protection of intellectual property (IP) worldwide through cooperation among states and in collaboration with international organizations. It aims to promote innovation and creativity by safeguarding the rights of creators and inventors.

WIPO administers various international treaties and works to develop IP policies and services that benefit all nations. By fostering a balanced and accessible international framework for IP rights, WIPO helps to ensure that innovations and creative works are recognized and protected globally. This organization plays a critical role in promoting the economic growth and development of member states through intellectual property services.

The other options do not accurately represent the organization’s purpose or function, highlighting the importance of understanding the correct terminology and roles of international bodies in the context of global business and intellectual property.