The League of Nations was established after World War I as a part of the Treaty of Versailles, intended to maintain world peace and prevent future conflicts. It aimed to promote cooperation among countries, resolve disputes through diplomacy, and foster disarmament. Despite its ambitious goals, the League struggled with enforcement and lacked the participation of significant powers like the United States, which undermined its authority. The League's inability to prevent aggression from nations, including Japan and Italy, highlighted its limitations. Ultimately, its failure to maintain peace and security contributed to its dissolution in 1946, leading to the establishment of the United Nations.