The IPTC was established in 1965 by a group of news organisations including the Alliance Européenne des Agences de Presse, ANPA (now NAA), FIEJ (now WAN) and the North American News Agencies (a joint committee of Associated Press, Canadian Press and United Press International) to safeguard the telecommunications interests of the World’s Press.
Since the late 1970’s IPTC’s activities have primarily focussed on developing and publishing Industry Standards for the interchange of news data.

JPEG is not a file format. It is a compression algorithm whose name derives from the committee that oversees it. (…) What most people understand as JPEG is really JFIF – the JPEG File Interchange Format.(…) JFIF markers begin with a short signature that identifies the type as a COM (comment) or an APPx (application-defined) marker where ‘x’ is a number. A COM-type marker should be used for user-supplied descriptive text. APP0 markers are employed for various things, so as well as being identified as APP0 they are further sub-classified for specific purposes. Some of these are native to the JFIF standard. Others are extensions created by software authors and hardware manufacturers to store information not catered for in the standard APP0 markers. (…).
In addition to the APP0 markers are other APPx markers, also used for special purposes. For instance, APP13 is employed by Adobe Photoshop to store information about the image in a format that is a sub-set of the standard defined in by the International Press Telecommunications Council Information Interchange Model (IPTC-IIM).