Guest post by Ivan Stepanov*
International investment agreements (IIAs) are international treaties which protect investors coming from one state and their investment in another. They represent the source of what is called international investment law. IIAs have endemic protection standards with the protection against expropriation and the “fair and equitable treatment” (FET) standard being most prominent.
Even though IIAs are instruments of public international law, the dispute settlement mechanism embedded in the treaties offers the investor, a private party, to challenge the state, if it holds that through state action, it or its investment have suffered economic losses. The actions of the state are then assessed in light of the aforementioned protection standards. This mechanism is called the investor-state dispute settlement or more commonly addressed as investment arbitration. Essentially through investment arbitration an investor has the chance to sue the state in an international forum inside a specific legal environment. Continue reading “IP, Investment Arbitration and Policy Justifications”