Describe the Madrid system of registration of marks.

The Madrid System of registration of marks is an international system administered by the World Intellectual Property Organization (WIPO) that facilitates the registration of trademarks in multiple jurisdictions through a single application. It allows trademark holders to protect their marks across various countries with ease, offering a streamlined process for international trademark protection. The Madrid System consists of two key components: the Madrid Agreement (1891) and the Protocol Relating to the Madrid Agreement (1989). 

Under the Madrid System, an applicant can file a single international application for trademark registration, designating multiple member countries where they seek protection. The application is based on the applicant's national or regional registration or application, meaning that the applicant must first have a trademark registered or applied for in their home country or office. This is referred to as the "basic application" or "basic registration," which serves as the foundation for the international application. 

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