There was no single international source for intellectual property obligations and norms until the 1994 Uruguay Round of the General Agreement on Tariffs and Trade (GATT), which created the World Trade Organization (WTO) and included the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). The significance of the TRIPS Agreement is three-fold: While previous international agreements on intellectual property rights continue to exist, the TRIPS Agreement was the first time that intellectual property rules were incorporated into the multilateral trading system.