diff --git a/README.md b/README.md
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--- a/README.md
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@@ -14,6 +14,14 @@
 [![Eclipse-dash](https://github.com/eclipse-tractusx/item-relationship-service/actions/workflows/eclipse-dash.yml/badge.svg)](https://github.com/eclipse-tractusx/item-relationship-service/actions/workflows/eclipse-dash.yml)
 [![Tavern IRS API test](https://github.com/eclipse-tractusx/item-relationship-service/actions/workflows/tavern.yml/badge.svg)](https://github.com/eclipse-tractusx/item-relationship-service/actions/workflows/tavern.yml)
 
+## Vision and Mission Statement
+
+"The IRS is providing a technical API Endpoint in the Catena-X Network, which builds an item tree representation of given digital twins stored across the industry. Therefore, it is a key component for the Network to provide data chains along the value chain in the industry."
+
+``The vision for the Item Relationship Service is to provide an easy access endpoint for complex distributed digital twins across Catena-X members.
+It abstracts the access from separated digital twins towards a connected data chain of twins and provides those.
+It enables to apply business logic on complex distributed digital twins across company borders.``
+
 ## What is the IRS?
 
 Within the [Catena-X network](https://catena-x.net/), the so-called Item Relationship Service (IRS) forms an essential