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The definition of investor and investment is key to the scope of application of rights and obligations of investment agreements and to the establishment of the jurisdiction of investment treaty-based arbitral tribunals. This factual survey of state practice and jurisprudence aims to clarify the requirements to be met by individuals and corporations in order to | ISBN 978-92-64-04202-5 International Investment Law Understanding Concepts and Tracking Innovations OECD 2008 Chapter 1 Definition of Investor and Investment in International Investment Agreements The definition of investor and investment is key to the scope of application of rights and obligations of investment agreements and to the establishment of the jurisdiction of investment treaty-based arbitral tribunals. This factual survey of state practice and jurisprudence aims to clarify the requirements to be met by individuals and corporations in order to be entitled to the treatment and protection provided for under investment treaties. It further analyses the specific rules on the nationality of claims under the ICSID Convention. As far as the definition of investment is concerned most investment agreements adopt an open-ended approach which favours a broad definition of investment. Nevertheless recent developments in bilateral model treaties provide explanatory notes with further qualifications and clarifications of the term investment. The survey further reviews the definition of investment under ICSID as well as non-ICSID case-law for jurisdictional purposes. This survey was prepared by Catherine Yannaca-Small Investment Division OECD Directorate for Financial and Enterprise Affairs. Lahra Liberti Investment Division OECD Directorate for Financial and Enterprise Affairs prepared Section II of Part II and revised the document in light of the discussions in the OECD Investment Committee. This paper is a factual survey which does not necessarily reflect the views of the OECD or those of its member governments. It cannot be construed as prejudging ongoing or future negotiations or disputes arising under international investment agreements. 7 1. DEFINITION OF INVESTOR AND INVESTMENT IN INTERNATIONAL INVESTMENT AGREEMENTS Executive summary The definition of investor and investment are among the key elements determining the scope of application of rights and .
