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?

1. Statement 1 is correct. The World Intellectual Property Organisation (WIPO) is indeed one of the specialised agencies of the United Nations System. 2. Statement 2 is incorrect. WIPO has its headquarters in Geneva, Switzerland, not Rome. 3. Statement 3 is correct. The Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) is administered by the World Trade Organization (WTO), and adherence to it is binding on all WTO members. 4. Statement 4 is incorrect. The TRIPS Agreement provides transitional periods for Least Developed Country (LDC) members, but the initial period mentioned was generally 10 years (extendable), not a flat 20 years from the general date of application (1995/1996). The transition period for LDCs regarding pharmaceutical patents was extended multiple times, but the original general transition was not 20 years. 5. Therefore, only statements 1 and 3 are correct.