Consider the following statements: 1. The World Intellectual Property Organisation (WIPO) is a specialised agency of United Nations System of Organisations 2. WIPO has its headquarters at Rome 3. The Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement is binding on all WTO members 4. Least developed country members of WTO are not required to apply the provisions of TRIPS Agreements for a period of 20 years from the general date of application of the Agreement Which of these statements are correct?

The correct answer is D because only statements 1 and 3 are factual. Statement 1 is correct. WIPO was established in 1967 and became a specialized agency of the United Nations in 1974. Statement 2 is incorrect. The headquarters of WIPO is located in Geneva, Switzerland, not Rome. Statement 3 is correct. The TRIPS Agreement is a mandatory requirement for all members of the World Trade Organization. It sets minimum standards for intellectual property regulation. Statement 4 is incorrect. While Least Developed Countries were granted extensions and transitions, the timeframes vary depending on the specific intellectual property area (such as pharmaceuticals) and have been extended multiple times through specific waivers. There is no blanket, fixed 20-year exemption for all provisions from the general date of application. Therefore, only statements 1 and 3 are accurate.