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date: 24 January 2021

Abstract and Keywords

This article covers certain basic issues of definition common to all international investment agreements (IIAs). The starting point for understanding the scope of an IIA is the definition of the terms that activate the protection afforded under the agreement. This article seeks to outline how such questions have been answered in practice. It reviews the nature of the various definitions of ‘investor’ and ‘investment’ as found in IIAs and in arbitral practice. The context for such a discussion lies within the process of the development of IIAs, and, in particular, dispute settlement provisions, to which issues of definition are key in determining the enforceability of rights under the agreement for the investor. This article also considers in more detail the meanings of the key definitional terms under IIAs, commencing with the definition of ‘investment’, followed by an examination of the term ‘investor’, in relation to both natural and legal persons.

Keywords: international investment agreements, investor, investment, dispute settlement provisions, rights, legal persons

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