The significance of the founding of the League of Nations lies in its attempt to create an international organization dedicated to maintaining peace and cooperation among nations following World War I. Established in 1920, the League aimed to prevent future conflicts through collective security agreements and diplomacy. While it marked the first serious endeavor to establish a global governing body, it ultimately struggled with enforcement mechanisms and the absence of key powers like the United States. The League laid the groundwork for the later United Nations and introduced concepts of international law and human rights, influencing future global governance.