The global crises of the early 21st century have tested the international financial architecture. In seeking to ensure stability, governments have regulated financial and capital markets. This in turn has implicated international investment law, which investors have invoked as a shield against debt restructuring, bail-ins or bail-outs. This book explores whether investment law should protect against such regulatory measures, including where these have the support of multilateral institutions. It considers where the line should be drawn between legitimate regulation and undue interference with investor rights and, equally importantly, who draws it. Across the diverse chapters herein, expert international scholars assess the key challenges facing decision makers, analyze arbitral and treaty practice and evaluate ways towards a balanced system of investment protection in the financial sector. In doing so, they offer a detailed analysis of the interaction between investment protection and financial regulation in fields such as sovereign debt restructuring and bank rescue measures. Combining high-level analysis with a detailed assessment of controversial legal issues, this book will provide guidance for both academics and legal practitioners working in international economic law, international arbitration, investment law, international banking and financial law. Contributors include: A. Asteriti, P. Athanassiou, C.N. Brower, A. De Luca, A. Goetz-Charlier, A. Gourgourinis, R. Hofmann, H. Kupelyants, Y. Li, M. Mendelson, M.W. Muller, M

Historiographical approaches to international investment law scholarship are becoming ever more important. This insightful book combines perspectives from a range of expert international law scholars who explore ways in which using a broad variety of historical methods and historical research can lead to a better understanding of international investment law. International Investment Law and History critically analyses the use of historical argument in international investment law. It examines the vital roles that historical arguments play in interpreting investment treaties, resolving investor-state disputes, and justifying or criticising the current system of investment protection. This book is the first in-depth study on the methodological challenges and benefits of historical analysis in international investment law. As such, it is a vital tool for scholars and practitioners in the field who wish to understand ways in which to use historical research and analysis to improve and redefine international investment law. Contributors include: M. Boase, H. Bray, Y. Chernykh, J. Ho, R. Hofmann, J. Kammerhofer, A. Kulick, K. Miles, M. Pinchis-Paulsen, S.W. Schill, T. St. John, C.J. Tams, J. Yackee

This book focuses on the Asia-Pacific region, delineating the evolving dynamics of foreign investment in the region. It examines the relationship between efforts to increase foreign direct investment (FDI) and efforts to improve governance and inclusive growth and development. Against a background of rapidly developing international investment law, it emphasises the need to strike a balance between these domestic and international legal frameworks, seeking to promote both foreign investment and the laws and policies necessary to regulate investments and investor conduct. Foreign investments play a pivotal role in most countries' political economies, and in order to encourage cross-border capital flows, countries have taken various steps, such as revising their domestic legal frameworks, liberalising rules on inward and outward investment, and creating special regimes that provide incentives and protections for foreign investment. Alongside the developments in domestic laws, countries have also taken bilateral and multilateral action, including entering into trade and/or investment agreements. Further, the book explores regional investment trends, highlights specific features of Asia-Pacific investment laws and treaties, and analyses policy implications. It addresses four overarching themes: the trends (how Asia-Pacific's agreements compare with recent global trends in the evolving rules on foreign investment); what China is doing; current investment arbitration practice in Asia; and the importance of regionalising investment law in the Asia-Pacific region. In addition, it identifies and discusses the research and policy gaps that should be filled in order to promote more sustainable and responsible investment. The book offers a valuable resource not only for academics and students, but also for trade and investment officials, policy-makers, diplomats, economists, lawyers, think tanks, and business leaders interested in the governance and regulation of foreign investment, economic policy reforms, and the development of new types of investment agreements.

Winner of the Vitivinicultural Law OIV Award (2021), from the International Jury of the International Organisation of Vine and Wine. Click here to read. This 26-chapter volume brings together leading academics and practitioners to examine how wine law and policy have gradually moved from national terroirs to a global market. It is the first holistic study of the comprehensive field of wine law which posits that the wine laws and regulations have caused an enormous imbalance between different jurisdictions, which has either resulted in the overregulation, which stifles innovation, and under-regulation, which leaves many a wine consumer clueless about what they are drinking. This book brings together legal scholarship about trade law, intellectual property rights, and health law and policy which are all relevant for the future of the wine industry.

Once regarded as an esoteric and arcane area of legal studies,intellectual property law is now recognised as a key foundation of the information society. Part of the legal system's response to the challenges of human creativity, intellectual property law seeks to balance rewards for innovation against the broader public interest. The contributors to this volume address some of the emerging controversies in this expanding area of law, including: property rights in data; cross-border infringement of copyright; dilution of trade marks; the expansion of the law of patents; and the interface between intellectual property law and the regulation of unfair competition. CONTRIBUTORS: The Hon Justice WMC Gummow, John Robinson, Thomas Marci Hamilton, John Simllie, Brian Fitzgerald, Sir Nicholas Pumfrey, Louise Longdin, John Adams, Graeme Austin, Susy Frankel, Sam Ricketson, Ian Eagles. TABLE OF CONTENTS 1 International Intellectual Property Law and the Common Law World - Introduction by The hon Justice W.M.C. Gummow Part 1: Intellectual Property and the Information Society 2 Database Protection and the Circuitous Route Around the United States Constitution - Marci A. Hamilton 3 Commodifying and Transacting Informational Products Through Contractual Licences: The Challenge for Informational Constitutionalism - Brian Fitzgerald 4 Shall We Shoot a Messenger Now and Then? Copyright Infringement and the On-line Service Provider - Louise Longdin 5 Copyright Across (and Within) Domestic Borders - Graeme W. Austin Part 2: Developments in Industrial Society 6 Dilution and Confusion: The Bases of Trade Mark Infringement or the new Australian Trade Marks Anti-dilution Law 1999 - Sam Ricketson 7 New Challenges for the Law of Patents - John Robinson Thomas 8 Patentability in Australia and New Zealand Under the Statute of Monopolies - John Smillie 9 The Protection of Designs - The Hon Sir Nicholas Pumfrey 10 Industrial Property in a Globalised Environment: Issues of Jurisdiction and Choice of Law - John N. Adams Part 3: Competition and Market Regulation 11 Unfair Competition Law -

Recent transatlantic relations have been plagued by a seemingly endless series of disputes over trade and other economic and political interests. Some of these disputes have been amongst the most prominent of the WTO era: the Bananas Case, the Beef Hormones Case and the furore over the Helms-Burton Act. This book analyses the sources of transatlantic disputes, and the means employed to prevent and settle such disputes both bilaterally and through the multilateral dispute settlement mechanism of the of the WTO, and identifies promising areas for reform.

NAFTA has initiated a procedure for addressing transborder economic problems in a more adequate and predictable fashion, potentially encouraging policy convergence between three disparate political cultures. Rather than addressing economic, social and environmental policy issues separately, trade policy now serves as a vehicle for negotiating policy convergence. Consequently trade officials are being forced to deal with an expanded array of domestic policy isues. This text presents a detailed examination of the initial NAFTA experience and evaluates its long-term implications beyond those of ending trade and tarriff barriers. In particular, it examines the cultural implications of this international arrangement. In addition, environmental protection and conservation issues are increasingly at the forefront of the international political agenda. NAFTA's environmental side agreement has created a way of addressing environmental concerns whilke protecting local standards, illustrating the attempt to achieve policy convergence by means of a trade apparatus. NAFTA now represents the continuing tension between integration and the maintenance of national autonomy.

The case of the Bank of Credit and Commerce International (BCCI) illustrated the many existing gaps in the international rules and standards governing bank supervision. This book deals with these rules and advocates how they should develop. It is based on the thesis that the rules essentially "percolate" from the national, regional and international levels and that these areas have become integrally interconnected. The book concludes with proposals suggesting ways of better interconnecting the national, regional and international levels through more formal, legalistic and transparent structures. The work is aimed at the financial institutions community, legal practitioners and academics. This is the third volume of a series which has been designed to provide a broad foundation for comparative analysis of changes and reforms occurring worldwide in international banking regulation and practice. It should prove a valuable tool in the comprehension of both policies and practicalities reflected by these rapid changes and reforms.

This important new book deals with the formation and regulation of regional trade agreements in the context of the WTO legal regime and Eastern and Southern African countries, specifically those nations that make up the Common Market for Eastern and Southern Africa (COMESA). Despite a poor track record, regional integration has for a long time been, and remains, the preferred path to economic development and poverty alleviation among developing countries in Africa. Regional integration undoubtedly holds great promise for developing nations in Africa.Many African countries stand to gain from pooling their meager resources and thus being able to participate more meaningfully in the international arena. However, the rhetoric surrounding integration has not been matched by actions and the record of trade liberalization has been weak. Substantive action appears to be taking a back seat to formal statements and declarations. This book consequently addresses four related critical issues: compliance with rules and regime design, the relationship between regionalism and multilateralism, the legal regime created by Article XXIV and the Enabling Clause of the General Agreement on Tariffs and Trade, and the COMESA legal regime. Product highlights: it provides readers with expert perspective on regional trade agreements, an area of growing concern to practitioners, academics, and government officials.

The application of international law to state contracts with foreign private companies was the cause of continuing controversy throughout much of the twentieth century. State contractual undertakings with foreign investors raise a number of legal issues that do not fit well into the traditional pattern of international law as a law between states, but which also cannot be satisfactorily resolved by the exclusive application of the municipal law of the contracting state. In recent years the controversy has gained new prominence as a result of the advent of a new form of international dispute settlement, namely the mechanism of investment treaty arbitration. The main feature of this model of dispute resolution is that foreign investors are entitled to bring claims against states directly before international arbitral tribunals. This model, which emerged strongly in the late 1990s, has generated a rapidly expanding body of arbitral case law and in the process become one of the most significant new developments in modern international law. Many of the disputes subject to investment treaty arbitration have their origin in contractual commitments made by states toward foreign investors. At the same time international commercial arbitration continues to be the preferred means of dispute resolution in contracts between foreign investors and states or state entities. This book explores how contract claims against states are dealt with in the two parallel processes of treaty-based and contract-based arbitration. The book charts the development of commercial arbitration into an international legal remedy in this field, discusses the theoretical problems which it creates for international law, and outlines the most significant substantive features of the international law applicable to contract claims as developed by arbitral tribunals on the basis of treaty standards and customary law.

Technical standards are increasingly determining the development, production, trade in and marketing of goods and services. In order to ensure that technical regulations and product standards which vary from country to country do not create unnecessary obstacles to trade the Agreement on Technical Barriers to Trade was adopted during the Uruguay Round. It is paralleled by the Agreement on Sanitary and Phytosanitary Measures which sets out the basic rules on how governments can apply food safety as well as animal and plant health measures without, however, using them as an excuse for protecting domestic producers. Prominent decisions under the WTO Dispute Settlement have interpreted those provisions. This volume gives a detailed account of the necessary parameters for technical standards and measures seeking to protect health and environment. Included are commentaries on Articles III, XI and XX of GATT 1994 which are equally relevant in this context. The article by article commentaries draw from a considerable body of case law, the work by the TBT and SPS Committee and the relevant legal literature. Attention is given to substantive requirements as well as the necessary standard setting procedures. Apart from a thorough analysis of the relevant and most recent jurisprudence including the Biotech Panel Report the commentary seeks to give answers to newly emerging issues, such as special needs of developing countries. It is an indispensable tool for practitioners and academics working in this field of WTO law.

This book provides an insight into commercial relations between large economies and Small States, the benefits of regional integration, the role of Small States as financial centres as well as B2B and State to State dispute resolution involving Small States. Several contributions allow the reader to familiarise themselves with the general subject matter; others scrutinise the particular issues Small States face when confronted with an international dispute and discuss new and innovative solutions. These solutions range from inventive ideas to help economic growth to appropriate mechanisms of dispute resolution including inter-State dispute resolution and specific areas of arbitration such as tax arbitration. Researchers, policy advisors and practitioners will find a wealth of insights, information and practical ideas in this book.

With a foreword by Prof. Paolo Palchetti The topic of this book is the participation of the EU in international dispute settlement. It aims to provide the reader with an appraisal of the most problematic aspects connected with the participation of a sui generis legal subject such as the EU to international dispute settlement mechanisms in a State-centric international law. In particular, the publication dwells on the question of how to make possible an effective participation in disputes while at the same time preserving the specific characteristics (i.e. the autonomy) of the EU legal order. It does so by outlining different models and proposing the internalization model adopted under EU investment agreements as a possible paradigm. It is aimed at academics, practitioners and graduate students as well as EU officials and judges who should find the issues discussed both useful and of interest for staying up-to-date on the scholarly discussion and of their relevance to case law. Luca Pantaleo is a Lecturer in International and European Law at The Hague University of Applied Sciences in The Netherlands. He obtained a PhD in International and EU Law in 2013 at the University of Macerata in Italy and was previously a Senior Researcher at the T.M.C. Asser Institute and Postdoctoral researcher at the University of Luxembourg. Specific to this book: * Provides an up-to-date analysis of a current problem* The topic of the book is located at the intersection between international and EU law* Fills an important gap in the available literature

This book provides readers with a unique opportunity to learn about one of the new regional trade agreements (RTAs), the China-Australia Free Trade Agreement (ChAFTA), that has been operational since December 2015 and is now at the forefront of the field. This new agreement reflects many of the modern and up-to-date approaches within the international economic legal order that must now exist within a very different environment than that of the late eighties and early nineties, when the World Trade Organization (WTO) was created. The book, therefore, explores many new features that were not present when the WTO or early RTAs were negotiated. It provides insights and lessons about new and important trade issues for the twenty-first century, such as the latest approaches to the regulation of investment, twenty-first century services and the emerging digital/knowledge economy. In addition, this book provides new understandings of the latest RTA approaches of China and Australia. The book's contributors, all foremost experts on their subject matter within this field, explore the inclusion of many traditional trade and investment agreement features in the ChAFTA, showing their continuing relevance in modern contexts.

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the WTO authorized and paginated reports in English. An essential addition to the library of all practising and academic trade lawyers, and needed by students worldwide taking courses in international economic or trade law. Volumes IV to VIII report on European Communities - Measures Affecting the Approval and Marketing of Biotech Products.

This is a book about the ever more complex legal networks of transnational economic governance structures and their legitimacy problems. It takes up the challenge of the editors' earlier pioneering works which have called for more cross-sectoral and interdisciplinary analyses by scholars of international law, European and international economic law, private international law, international relations theory and social philosophy to examine the interdependences of multilevel governance in transnational economic, social, environmental and legal relations. Two complementary strands of theorising are expounded. One argues that globalisation and the universal recognition of human rights are transforming the intergovernmental "society of states" into a cosmopolitan community of citizens which requires more effective constitutional safeguards for protecting human rights and consumer welfare in the national and international governance and legal regulation of international trade. The second emphasises the dependence of the functioning of international markets and liberal trade on governance arrangements which respond credibly to safety and environmental concerns of consumers, traders, political and non-governmental actors. Enquiries into the generation of international standards and empirical analyses of legalization and judizialisation practices form part of this agenda. The perspectives and conclusions of the more than 20 contributors from Europe and North-America cannot be uniform. But they converge in their search for a constitutional architecture which limits, empowers and legitimises multilevel trade governance, as well as in their common premise that respect for human rights, private and democratic self-government and social justice require more transparent, participatory and deliberative forms of transnational "cosmopolitan democracy".

This book discusses the relationship between democracy and the financial order from various legal perspectives. Each of the nine contributions adopts a unique perspective on the legal and political challenges brought to the fore by the Global Financial Crisis. This crisis and the ensuing sovereign debt crisis in Europe are only the latest in a long series of financial crises around the globe in recent decades. By their very existence, but also as a result of the political turmoil they have created, these financial crises testify to the well-known tensions between democracy and a market-based economic and financial order. However, what is missing in this debate is an analysis of the role of law for reconciling democracy with a market-based financial order. To fill this lacuna, the book focuses on the controversy surrounding the concept of law, thereby adding another variable to the debate on the relation between democracy and capitalism. Each chapter addresses the concept of law from a particular theoretical angle, be it a full-grown legal theory or an approach in political economy that has a particular view of the law.

This work provides a comprehensive analysis of the role of non-judicial dispute settlement in international financial transactions. Whereas arbitration and non-judicial dispute settlement mechanisms are of growing importance in international economic transactions, their present and future role in financial transactions is not yet fully explored. This publication aims to fill this gap in the literature and includes analyses of bank remedies, direct negotiation and mediation in financial and business conflicts, debt renegotiations, restructuring of syndicated loans, arbitration in project financing, and the roles of the ICC, NAFTA and OAS. Some of the expert papers focus in particular on the role of arbitration and dispute resolution in Latin America, Greater China and Russia. The text is based on the edited and revised papers of an international conference - part of a global series of conferences held in 1999 on the "New International Financial Architecture" - organized by the Law Centre of European and International Cooperation (R.I.Z., Cologne), the Centre for Commercial Law Studies (London), the Asian Institute of International Financial Law (Hong Kong), and the SMU Institute of International Banking and Finance (Dallas).

This provocative study investigates the question of whether, and to what extent, stringent EC process or production standards affect regulatory standards in the US and Canada through their effects on trade. Four highly controversial issues - animal trapping methods, beef growth hormones, genetically modified foods and food products, and protection of personal information in data transfers - are examined in great detail. The author combines legal research (EC regulations and directives, WTO cases, national and international regulatory standards and exceptions, records of negotiation and arbitration, and other sources), political and economic analysis, and information and insights gained from 67 personal interviews with officials and representatives of several types of interest groups. The result is a forceful and convincing portrayal of how the major powers are dealing with this most fundamental and complex problem affecting international trade today. This timely study is of extraordinary value in its potential to elucidate comparable manifestations of this fundamental problem in a wide variety of cases, issue areas, and countries, and in its interdisciplinary approach. As such it will be valuable to all lawyers, policymakers, and scholars in the field of international trade and regulatory politics.

In recent years, there has been a decentralisation of the enforcement of the EU competition law provisions, Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU). Consequently, the national application of these provisions has become increasingly more common across the European Union. This national application poses various challenges for those concerned about the consistent application of EU competition law. This edited collection provides an in-depth analysis of the most important limitations of, and the challenges concerning, the applicability of Articles 101 and 102 TFEU at national level. Divided into five parts, the book starts out by examining how the consistent enforcement of Articles 101 and 102 TFEU operates as a general EU competition policy. It then discusses several recent landmark cases of the European Court of Justice on Articles 101 and 102 TFEU, before proceeding to analyse certain additional, unique jurisdictional challenges to the uniform application of the EU competition law provisions. Subsequently, it focuses on one of the most important instruments that can help to achieve the uniform application of EU competition law in cases handled by the national courts: preliminary rulings. Finally, it provides selective examples of how Articles 101 and 102 TFEU are effectively applied at national level, thereby providing additional input into how problematic the issue of consistent application of EU competition law is in practice.

This book argues that the trade-distorting effects of advantages associated with SOEs are more severe from an economic perspective, and the behavior of SOEs after receiving advantages is of more concern, compared to private-owned enterprises (POEs). The premise is that the existence of SOEs per se is not the essential problem; rather, the underlying problems are (i) the disproportionate granting of advantages to SOEs (compared to POEs) and (ii) the behavior of SOEs once they receive advantages. The book offers a systematic analysis focusing on the various advantages granted to SOEs and their subsequent behavior. Its detailed analysis reveals the inadequacy of current WTO rules and is complemented by a number of concrete proposals.

The impact of the European Community and European Community law on taxation is becoming increasingly important. EC law influences not only national tax law but also tax treaties. This book focuses on the question of whether anti-abuse provisions in tax treaties may be in conflict with EC law, especially the fundamental freedoms contained in the EC Treaty. This issue is dealt with from the perspective of Austria, France, Germany, Italy, The Netherlands, Spain and the United Kingdom. Though most problems arise with regard to the limitation on benefits clauses contained in the tax treaties concluded between EC Member States and the United States, the book also addresses the compatibility with EC law of other anti-abuse clauses and assesses the consequences of a possible conflict. EUCOTAX (European Universities Cooperating on Taxes) is a network of fiscal institutes of European universities - nine in 1998. This network aims at initiating and co-ordinating both comparative education and comparative research on taxation. The comparative education is structured by various means, e.g. organizing winter courses and guest lectures. Comparative research is realised by means of joint research projects, international conferences and exchange of researchers from various countries.

The North American Free Trade Agreement (NAFTA) and the Energy Charter Treaty (ECT) are the first major multilateral treaties to impose obligations on governments concerning the protection and treatment of foreign investments. These obligations are enforceable by private companies. NAFTA and the ECT examines the effectiveness of the investment rules of these treaties and analyzes the mechanisms adopted to enhance compliance, and to facilitate the implementation and enforcement of the relevant rules and regulations. Coverage of this work includes: a conceptual analysis of the precise meaning and theoretical foundation of compliance, implementation, and effectiveness; an examination of issues of direct effect and direct international responsibility in terms of the practical question of the treaties' impact on the domestic regimes of states; an exploration of the issues of transparency and monitoring to achieve enhanced compliance; and a close look at a number of key links in the field - between the investment rules and the workings of national legal and governmental systems, between national and international law, between different disciplines involved (international law, international relations, international politics, and economics), and between transparency and compliance monitoring. NAFTA and the ECT also offers several helpful features, including results from a questionnaire-based survey circulated to the main players in the realm of foreign investment which offer insights on the prevalent perception of the industry towards NAFTA and the ECT; and suggested provisions and frameworks which would enhance the effectiveness of the investment rules. The issues probed and conclusions reached and the interdisciplinary and comparative approach taken should make NAFTA and the ECT a a useful resource for academics, policymakers, and others interested in the effectiveness of international investment agreements and the tools employed in their implementation and enforcement.

'Ruhmkorf's thought-provoking book has a powerful message: that we cannot rely on the discretion of business to promote CSR voluntarily. Through the devastating example of the Rana Plaza disaster, Ruhmkorf shows that we must get beyond business rhetoric and develop a multidimensional approach to the regulation of global supply chains. Whilst recognising the existing limitations of private law, his book highlights the potential contribution of private law to the development and promotion of CSR. The task is not an easy one, but by adopting a pluralistic approach to corporate law and by employing contract law, consumer law and tort law more dynamically, English private law could fill many of the regulatory gaps. The message is urgent and strong. This is a must read book for anyone concerned with CSR, supply chains and the law.' - Charlotte Villiers, University of Bristol, UK 'This book fills an important gap in discussions of international CSR standards. It is all very well to say that states must protect and companies should respect human rights, but when breaches of human rights do occur, it is remedies that matter. Ruhmkorf explores the limits of private law avenues for seeking such remedies. In so doing, he provides a valuable understanding of obstacles to fuller realization of the three-pillared ''Protect, Respect and Remed'' Framework of the UN Guiding Principles on Business and Human Rights. - Alice de Jonge, Monash University, Australia Current debate surrounding social responsibility has neglected to fully comprehend the important role of national private law in achieving socially responsible conduct in business. This insightful book demonstrates how private law makes a significant contribution to the promotion of corporate social responsibility (CSR) and how it could be improved. Based on the analysis of four substantive areas (company law/corporate governance, contract law, consumer law and tort law), this inclusive book covers a full range of issues that are important for CSR. These include directors duties, corporate reporting, the incorporation of CSR policies into the supply chain, consumer rights and the tortious liabilities of companies. The book discerns how national private law in the home state of multinational enterprises can legally affect their socially responsible conduct worldwide. Andreas Ruhmkorf demonstrates that private law already promotes and, with certain amendments, could better promote CSR in the regulation of global supply chains. The book's findings are applied to the collapse of the Rana Plaza Building in Bangladesh, which offers a supportive empirical insight. As an up-to-date and comprehensive survey of CSR and global supply chains, this work will benefit researchers and practitioners interested in the fields of CSR, private law, international law, political economy, international labor standards and sustainable supply chains.

Protection of intellectual property rights (IPRs) has become a global issue. The Trade-Related Aspects of Intellectual Property (TRIPS) Agreement outlines the minimum standards for IPR protection for WTO members and offers a global regime for IPR protection. However, the benefits of TRIPS are more questionable in poorer countries where national infrastructure for research and development (R&D) and social protection are inadequate, whereas the cost of innovation is high. Today, after more than a decade of intense debate over global IPR protection, the problems remain acute, although there is also evidence of progress and cooperation. This book examines various views of the role of IPRs as incentives for innovation against the backdrop of development and the transfer of technology between globalised, knowledge-based, high technology economies. The book retraces the origins, content and interpretations of the TRIPS Agreement, including its interpretations by WTO dispute settlement organs. It also analyses sources of controversy over IPRs, examining pharmaceutical industry strategies of emerging countries with different IPR policies. The continuing international debate over IPRs is examined in depth, as are TRIPS rules and the controversy about implementing the 'flexibilities' of the Agreement in the light of national policy objectives. The author concludes that for governments in developing countries, as well as for their business and scientific communities, a great deal depends on domestic policy objectives and their implementation. IPR protection should be supporting domestic policies for innovation and investment. This, in turn requires a re-casting of the debate about TRIPS, to place cooperation in global and efficient R&D at the heart of concerns over IPR protection.