GeoLite Country is a free version of MaxMind's GeoIP Country database. The GeoLite Country database has an estimated accuracy rating of 97% for determining the location of IP addresses by country. Monthly updates available for free at MaxMind.com.
IP2Location IP-COUNTRY-REGION-CITY-ISP-DOMAIN is commericial lookup database that translates IP address to country, region, city, Internet Service Provider (ISP) and domain name. Developers required this component for geotargeting projects.