MotoGP, an international motorcycle race founded in 1949, was known as WGP before 2002. From 2002, Fédération Internationale de Motocyclisme (FIM) changed the name of the highest GP500 and the entire event to MotoGP. The World Motorcycle Championship, also known as the Grand Prix motorcycle racing, commonly referred to as motorcycle GP and GP race, is the most important event in motorcycle road racing, whose importance is to two-wheel racing what F1 is to four-wheel racing. It is hosted by FIM, and the host countries of each sub-station are responsible for each specific competition. The specific management and dispute arbitration are carried out by the Motorcycle GP Competition Committee.