(i) GATT - General Agreement of Trade and Tariffs
(ii) WTO - World Trade Organization
(iii) FDI - Foreign Direct Investment
(iv) TRIPs - Trade Related aspects of Intellectual Property Rights
(v) TRIMs - Trade Related Investment Measures

(i) The 19^th Century witnessed the advent of globalization approaching its modern form.
(ii) There are significant differences in globalization between 19^th and 20^th century.
(iii) There are two main points one is the global trade and the capital investment.

(i) European companies which came to trade with India.
(ii) The discovery of a new all-sea route from Europe to India via cape of Good Hope by Vasco da Gama.
(Iii) Vasco da Gama had far-reaching repercussions on the civilized world.

(i) Expansion of Market Territory
(ii) Marketing Superiorities
(Iii) Financial Superiorities
(iv) Technological Superiorities
(v) Product innovations

(i) Globalization was characterized by the rise of maritime European empires, in the 16^th and 17^th centuries.
(ii) In 17^th century, globalization became private business phenomenon like British East India Company described as the first multinational company.

TRIPs:
i) TRIPS means Trade Related aspects of Intellectual Property rights.
ii) Under TRIPS patent shall be available for any invention whether product or process in all fields of industrial technologies.
iii) TRIPS agreement covers seven areas of intellectual's property rights.
TRIMs:
i) Trade Related Investment Measures include restrictions or conditions given by Government.
ii) It refers to restrictions imposed by a government in respect of foreign investment in the country in order to give adequate provisions for the home industries to develop

(i) To set and enforce rules for international trade.
(ii) To provide a forum for negotiating and monitoring further trade liberalization.
(iii) To solve trade disputes.
(iv) To increase the transparency of decision making processes. 

i)  Abolition of Industrial licensing, except for a few industries.
ii)  Reduction in the number of industries reserved for public sector,
iii) Fixation of a realistic exchange rate of rupee to exchange exports of Indian goods.
iv)  Foreign private sector by making rupee convertible on trade, on current account and by reducing import duties.
v) Foreign exchanges regulations were suitably amended.

i) Dutch undertook several voyages from 1596. They formed the Dutch East India Company in 1602.
ii) In 1605, Dutch factories were set up in Masulipatnam, Pettapoli and Devanampattinam
iii) In 1610, they founded another factory at Pulicat.
iv) Commodities exported by the Dutch were indigo, saltpeter and Bengal raw silk
v) Pulicat was the headquarters of the Dutch in India.

i) Globalization is the integration of a country with the world economy.
ii) Globalization signifies a process of internationalization plus liberalization.

(i) Too much flow of capital amongst countries, Introduces unfair and immoral distributors of Income
(ii) Another fear is losing national integrity Because of too much exchange of trade, independent domestic policies are lost.
(iii) Rapid growth of the economy has required a major infrastructure and resource extraction. This increase negative ecological and Social costs.
(iv) Rapid increases in exploitation of natural resources to earn foreign exchange.
(v) Environmental standards and regulations have been relaxed.

Goals of WTO:
(i) Raising and stabilizing the incomes of small scale farmers, farm workers and artisans.
(ii) More equitably distributing the economic gains, opportunities and risks associated with the production and sale of these goods.
(iii) Increasing the organisational and commercial capacities of producer groups.
(iv) Promoting labour rights and the right workers to organize.
(v) Promoting safe and sustainable farming methods and working conditions

(i) Sony Corporation
(ii) Hew left Packard (HP)
(iii) Tata Group
(iv) Microsoft corporation
(v) IBM
(vi) Nettle
(vii) Procter and Gamble
(viii) Pepsi company
(ix) The Coca-Cola company
(x) City group

i) The benefits of globalization extend to all countries that will not happen automatically.
ii) The fear that globalization leads to instability in the developing world.
iii) The industrial world that increased global competition will lead in race to the bottom in wages, labour right and employment practice.
iv) It leads to global imbalance.
v) Globalization has resulted with the embarrassment
vi) Globalization has led to an increase in activities such as child labour and slavery.
vii) Consumption of more junk food that led to the degradation of health and spread of disease.
viii) Globalization has led to environmental degradation

Evolution of MNC:
i) Like, the East India Company, which came to India as a trading company and then its net throughout the country to become politically dominant, these multinationals first start their activities in extractive industries or control raw materials in the host countries during 1920s and then slowly entered.
ii) In to the manufacturing and service sectors after 1950s. Most of the MNC's at present belong to the four major exporting countries viz., USA, UK, France, Germany. However, the largest is American. 11 of the 15 largest multinationals are Americans.
iii) Multi National Corporation (MNC) is a corporate organization which owns or controls production of goods or services in at least one country other than its home country.
Advantages of MNC:
i) Producing the same quality of goods at lower cost and without transaction cost
ii) MNC reduce prices and increase the purchasing power of consumers world wide.
iii) MNC is able to take advantage of tax variation.
iv) Spurring job growth in the local economies
Disadvantages of MNC:
i) MNCs are a way for the corporations to develop a monopoly for certain products.
ii) They are also a detrimental effect on the environment.
iii) The introduction of MNC may lead to the downfall of smaller, local business.
iv) MNC breach ethical standards, accusing them of evading ethical laws and leveraging their business agenda with capital.