The Nice Classification, established by the Nice Agreement (1957),[1] is a system of classifying goods and services for the purpose of registering trademarks. It is updated every five years and its latest 10th[2] version of the system groups products into 45 classes (classes 1-34 include goods and classes 35-45 embrace services), and allows users seeking to trademark a good or service to choose from these classes as appropriate. Since the system is recognized in numerous countries, this makes applying for trademarks internationally a more streamlined process. The classification system is specified by the World Intellectual Property Organization (WIPO).