The aim of this book is to consider the key elements of institutional reality. Particular attention is paid to linguistic elements, as well as constitutive and normative rules. The first chapter considers Wittgenstein’s later philosophy as the source of the theory of speech acts; the second looks at how some of Wittgenstein’s thoughts have been transmuted into a general theory of speech acts. The third chapter examines the notion of institutional facts. Finally, the book looks in detail at Searle’s ontology of social reality, as well as the theory of institutions built into its foundation.