The primary purpose of a patent law system should be to enhance economic efficiency, in particular by providing incentives for making inventions. The conventional wisdom is that patents should therefore be strictly exclusive rights. Moreover, in practice patent owners are almost never forced to give up their right to exclude others and receive only a certain amount of remuneration with, for instance, compulsory licensing. Other economically interesting patent-law objectives, however, include the transfer and dissemination of knowledge. Mechanisms exist by which the patent owner decides if he or she would prefer exclusive or non-exclusive rights, for instance the opportunity to declare the willingness to license and create patent pools. But it is questionable whether these mechanisms are sufficient and efficient enough in view of the existence of patent trolls and other problems. This work challenges the conventional wisdom to a certain extent and makes proposals for improvements.

This book provides a comprehensive review of the Measures for Administration of Takeover of Chinese Listed Companies (the Chinese takeover law), with emphasis on the differences between the Chinese takeover law and takeover legislation in the UK, the US and Hong Kong. The Chinese M&A market has been booming at an unprecedented rate in recent years; not only domestic investors, but also foreign funds and multinational companies are actively participating on the market. For both market participants and researchers, it is crucial to understand the emerging and transitional aspects of the Chinese economy and its M&A market, and the impacts of those aspects on relevant laws. While there are ongoing academic discussions on the convergence between the Chinese takeover law and its counterparts in the UK, Hong Kong and the US, this book offers a comprehensive discussion of the divergence and focuses on key differences in the transplanted Chinese takeover law.

This book examines the labour standards provisions in a number of Regional and Bilateral Trade Agreements, and assesses the potential of using the relevant clauses in these trade agreements as a benchmark for a multilateral approach. Based on the lessons learned from the Regional model, the book proposes a Global Labour and Trade Framework Agreement (GLTFA) combined with a joint ILO/WTO enforcement mechanism to resolve the contentious issue of the link between the CLS and international trade. The history of the linkage between the Core Labour Standards (CLS) and international trade dates back roughly 150 years, and has recently become one of the most vexing issues facing policy-makers. At the heart of the debate is the question whether or not trade sanctions should be imposed on countries that do not respect the CLS as embodied in multilateral conventions administered by the International Labour Organization (ILO). Concretely, this would entail inserting a social clause in the World Trade Organization (WTO) rules, and would trigger the imposition of sanctions on those countries that do not adhere to the CLS.

Conflicts between foreign investment law and environmental law are becoming increasingly frequent. On the one hand, the rise of environmental regulation poses significant challenges to foreign investors in several industries. On the other, the surge in investment arbitration proceedings is making States aware of the important litigation risks that may result from the adoption of environmental regulation. This study of the relationship between these two areas of law adopts both a policy and a practical perspective. It identifies the major challenges facing States, foreign investors and their legal advisers as a result of the potential friction between investment law and environmental law and provides a detailed analysis of all the major legal issues on the basis of a comprehensive study of the jurisprudence from investment tribunals, human rights courts and bodies, the ICJ, the WTO, the ITLOS, the CJEU and other adjudication mechanisms.

The enormous economic power of the People's Republic of China makes it one of the most important actors in the international system. Since China's accession to the World Trade Organization in 2001, all fields of international economic law have been impacted by greater Chinese participation. Now, just over one decade later, the question remains as to whether China's unique characteristics make its engagement fundamentally different from that of other players. In this volume, well-known scholars from outside China consider the country's approach to international economic law. In addition to the usual foci of trade and investment, the authors also consider monetary law, finance, competition law, and intellectual property. What emerges is a rare portrait of China's strategy across the full spectrum of international economic activity.

Gary Chartier elaborates a particular version of economic justice rooted in the natural law tradition, explaining how it is relevant to economic issues and developing natural law accounts of property, work, and economic security. He examines a range of case studies related to ownership, production, distribution, and consumption, using natural law theory as a basis for staking positions on a number of contested issues related to economic life and highlighting the potentially progressive and emancipatory dimension of natural law theory.

This book describes the energy-law situation in Brazil. It focuses on three specific energy sectors: oil, natural gas and biofuel. The decision to concentrate on these areas takes into account the role that these energy sectors play in the economic, political and legal systems in Brazil, as well as the fact that they are the primary subjects of current discussions surrounding economic regulation in the country. The book, composed of thematic chapters authored by specialized legal researchers, analyzes the different aspects of the oil, gas and biofuels industry, starting with an introduction and technical points and followed by a discussion of the legal issues. It also considers the different legal areas used to examine the aforementioned energy sectors, such as regulatory law, environmental law, tax law, international law, among others. The book will serve as a valuable guide for researchers interested in understanding Brazilian energy law, and at the same it time presents the state of the art of studies carried out in Brazil.

This publication examines the legal aspects of the spare parts market from an IP perspective: specifically whether design protection for spare parts of a complex product extends to the spare part aftermarket, or whether that market should remain open to competition. The stakeholders' equally weighty arguments that must be balanced against are, on the one hand, the property interest in an earned IP right in the design of the part; and on the other, enhanced competition, likely reflected in lower prices. The mounting tension between these two positions is manifest an increased number of lawsuits in both the US and the EU. This book provides a discussion of the legal issues involved in this debate from a global perspective, with special focus on the EU and the US. Part I contextualizes the legal debate by discussing the historical background, the competitive situation and the respective stakeholder positions. Part II examines the relevant legal questions on a comparative basis, evaluating the likelihood of its adoption in the jurisdictions examined. Concluding that adoption is unlikely, Part III proposes a number of possible considerations meant to further compromise. Part IV concludes with a future outlook, specifically in light of the impact of technological development on this market.

The case law of the World Trade Organization is extensive, now running into some three hundred decided cases and thousands of pages. The interpretative process involved in this jurisprudence constitutes a form of legislative activity, and is therefore of great significance not only to the parties to disputes, but to the membership of the WTO. Qureshi identifies some of the underlying problems of interpreting WTO agreements, and examines the conditions for the interpretation of these agreements. Since the first edition of this book, the case law has grown, and the interpretation evolved further. This second edition addresses these developments and engages in the contemporary discourse on the subject. Also included is a new section on issues of interpretation relating to preferential trade agreements and the WTO. This book is an essential tool for WTO trade specialists, as well as government and judicial officers concerned with interpreting these agreements.

Preferential trade agreements (PTAs) have been proliferating for more than two decades, with the negotiations for a Transatlantic Trade and Investment Partnership and a Trans-Pacific Partnership being just the tip of the iceberg. This volume addresses some of the most pressing issues related to the surge of these agreements. It includes chapters written by leading political scientists, economists and lawyers which theoretically and empirically advance our understanding of trade agreements. The key theme is that PTAs vary widely in terms of design. The authors provide explanations as to why we see these differences in design and whether and how these differences matter in practice. The tools for understanding the purposes and effects of PTAs that are offered will guide future research and inform practitioners and trade policy experts about progress in the scientific enquiry into PTAs.

International Trade Law offers a clear overview of the complexities of an international sale transaction through informed analysis of case law, legislation, and international conventions and rules. Fully updated with changes to the law and new directions in legal debate, this new edition considers: Standard trade terms including INCOTERMS 2010, the Convention on International Sales of Goods 1980 and the UNIDROIT Principles for International Commercial Contracts E-Commerce issues, including electronic bills of lading Insurance and payment mechanisms, such as letters of credit and the UCP 600 International transportation of cargo, including the Rotterdam Rules Dispute resolution (including jurisdiction, applicable law, arbitration and mediation), with particular reference to the relevant EU regulations and the developing case-law thereon Corruption and anti-corruption conventions, including the UK Bribery Act 2010 and developments relating to deferred prosecution agreements In addition to clarifying a range of topics through tables and diagrams, the book directs readers to relevant further reading and online resources throughout, offering students an accessible resource to this often challenging area of the law.

This revised edition of The History of ICSID details the history and development of the International Centre for Settlement of Investment Disputes (ICSID) and its constituent treaty, the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. Antonio Parra, the first Deputy Secretary-General of ICSID, traces the immediate origins of the Convention, in the years 1955 to 1962, and gives a stage-by-stage narrative of the drafting of the Convention between 1962 and 1965. He recounts details of bringing the Convention into force in 1966 and the elaboration of the initial versions of the Regulations and Rules of ICSID adopted at the first meetings of its Administrative Council in 1967. The four periods 1968 to 1988, 1989 to 1999, 2000 to 2010, and 2011 to 2015 are covered in separate chapters which examine the expansion of the Centre's activities and changes made to the Regulations and Rules over the years. There are also overviews of the conciliation and arbitration cases submitted to ICSID in the respective periods, followed by discussions of selected cases and key issues within them. A concluding chapter discusses some of the broad themes and findings of the book, examines how ICSID might meet several large new challenges facing it, and outlines several possible further changes of its rules and procedures The book offers unique insight into the establishment and design of ICSID, as well as into how the institution evolved and its relationship with the World Bank over the 50 years since the establishment of ICSID. It is essential reading for those involved in this field.

For over 40 years Professor Sir Roy Goode QC has been involved in the preparation of international instruments, working with the International Institute for the Unification of Private Law, the Hague Conference of Private International Law and the International Chamber of Commerce. The essays selected for this volume, written over the course of Sir Roy's career, offer a unique insight into the development of transnational commercial law, combining close theoretical study with an understanding of the practical relevance and application of the principles under discussion. Encompassing a range of topics, such as the processes and products of international harmonisation, comparative law and the conflict of laws, and placing a particular emphasis on the policies and problems of harmonisation, these essays were ground-breaking at the time of their publication and are still widely referenced to this day. Authorial commentary on the essays, provided through introductions to each section of the book, helps the reader to trace how the law has developed since, and often as a result of, the publication of each paper.

On 1 August 2008 the Chinese Anti-Monopoly Law entered into force, introducing a comprehensive framework for competition law to the Chinese market. One set of the new rules pertains to merger control. China's Ministry of Commerce (MOFCOM) was nominated as the authority responsible for enforcing merger control in China and has been actively doing so ever since. Recent years have established China as one of the most important merger filing jurisdictions for cross-border mergers alongside the EU and USA. This work evaluates the Chinese merger control law regime and MOFCOM's decision-making practice after more than five years of application. In particular, it assesses which policy goals (competition policy goals or industrial policy considerations) prevail in the written law and its application and provides suggestions for a further improvement of the law - with the aim to develop a transparent merger control regime that promotes long-term economic growth in China.

Despite being an important legal instrument in the law of the WTO, the waiver has hitherto been the subject of little scholarly analysis. Isabel Feichtner fills this gap by challenging the conventional view that the WTO's political bodies do not engage in significant law-making. She systemises the GATT and WTO waiver practice and suggests a typology of waivers as individual exception, general exception and rule-making instruments. She also presents the procedural and substantive legal requirements for the granting of waivers, deals with questions of judicial review and interpretation of waiver decisions, and clarifies the waiver's potential and limits for addressing the need for flexibility and adaptability in public international law and WTO law in particular. By connecting the analysis of waiver competence and waiver practice to the general stability/flexibility challenge in public international law, the book sheds new light on the WTO, international institutions and international law.

This book analyses the role of international organizations in WTO dispute settlement as arising from a number of WTO disputes. In particular, the roles of the IMF, WIPO, WCO and WHO are addressed. The use of the Vienna Convention rules of interpretation framework allows an evaluation of the weight attributed to this material by the WTO adjudicator. This allows specific conclusions to be drawn regarding the level of institutional sensitivity of the WTO adjudicator to each of the organizations. As well as being a valuable source of research, the analysis will appeal to international law scholars, civil servants and law practitioners interested in the WTO and dispute settlement.

Does public service liberalization pose a threat to gender and human rights? Traditionally considered essential services provided by a state to its citizens, public services are often viewed as public goods which embody social values. Subjecting them to market ideology thus raises concerns that the intrinsic social nature of these services will be negated. Moreover, as those most likely to be reliant on public services, public service liberalization may also further marginalize women. Nevertheless, states continue to increasingly liberalize public services. Barnali Choudhury explores the implications of public service liberalization. Using primarily a legal approach, but drawing from case studies, empirical research and gender theories, she examines whether liberalization under the General Agreement on Trade in Services and other liberalization vehicles such as preferential trade and investment agreements compromise human rights and gender objectives.

This comparison of EU and WTO approaches to common trade-liberalisation challenges brings together eighteen authors from Europe and America. Together they explore fundamental legal issues, such as the role of general principles of law, the role of the judiciary in the development of law, the effect of the principle of non-discrimination and the elimination of non-discriminatory barriers to trade. The contributions also examine the most recent developments in trade law across a full range of trade issues, including TBT and SPS, services, intellectual property, customs rules, safeguards, anti-dumping and government procurement. Adopting a comparative perspective throughout, this volume sheds light on today's trade law and suggests paths forward for each system through the perennial tensions between open, non-discriminatory trade and strongly held national values and objectives.

This volume assembles a stellar group of scholars and experts to examine preferential trade agreements (PTAs), a topic that has time and again attracted the interest of analysts. It presents a discussion of the evolving economic analysis regarding PTAs and the various dysfunctions that continually place them among the priority items for (re)negotiation by the WTO. The book explores recent empirical research that casts doubt on the old 'trade diversion' school and debates why the WTO should deal with PTAs and if PTAs belong under the mandate of the WTO as we now know it.

The legitimacy of the WTO's decision-making process has always been questioned, and many have advocated public participation mechanisms as a remedy. Yves Bonzon considers the limits and potential of these mechanisms by advancing a conceptual framework which distinguishes the four 'implementation parameters' of public participation: the goal, the object, the modalities, and the actors. He addresses the issue of legitimacy by considering to what extent, and by virtue of which legal developments, one can see implementing the democratic principle as a goal for public participation in the context of the WTO. By analysing the institutional structure of the WTO and its different types of decisions, he then outlines how this goal should influence the object and modalities of public participation, which decision-making procedures should be opened to public participation, and how the mechanisms should be implemented in practice. Finally, he suggests specific amendments to existing WTO arrangements on public participation.

This book explores the emergence of a new developmental state in Latin America and its significance for law and development theory. In Brazil since 2000, emerging forms of state activism, including a new industrial policy and a robust social policy, differ from both classic developmental state and neoliberal approaches. They favor a strong state and a strong market, employ public-private partnerships, seek to reduce inequality, and embrace the global economy. Case studies of state activism and law in Brazil show new roles emerging for legal institutions. They describe how the national development bank uses law in innovation promotion, trade law strengthens new developmental policies in export promotion and public health, and social law frames innovative poverty-relief programs that reduce inequality and stimulate demand. Contrasting Brazilian experience with Colombia and Mexico, the book underscores the unique features of Brazil's trajectory and the importance of this experience for understanding the role of law in development today.

Trade policy has played a vital role in the decline of European electronics business. The events that resulted in the disappearance of the European television industry, of a European and Japanese video recorder format and of other European consumer electronics are directly related to market structures in exporting countries and business practices. In this book, factual business data shows and economic models explain how restrictive trade practices result in elimination of efficient competitors in export markets. It deals with the memorable case how a videocassette recorder format was established by dumping and how politics enabled it. An innovative tariff increase for CD players was invalidated by heavy dumping, causing closure of production in Europe. European CTV industry succumbed under permanent dumping and a series of biases - as the interest of a state-owned company - and serious errors making trade instruments void and rules irreconcilable with international agreements. Practical and theoretical examples and explanations, some in detail, of trade rules are provided. The book sketches events - carelessness, prejudice or special interests, arbitrary and false application of trade instruments and fraud - resulting in disappearance of various European electronics business segments.

The treatment of foreign investors and of their investments on the territory of a host State is often subject to a bilateral investment treaty (BIT) signed by the national State of the investors and the host State. These BITs usually contain a clause in which the two States offer fair and equitable treatment (FET) to the foreign investors on their territory. Moreover, this clause has become a norm of customary law, implying that investors may rely on it even outside the context of the BIT. Foreign investors whose rights under this clause have not been respected may bring the State in front of an international tribunal. This book analyses not only the conventional and customary framework se the FET clause but also its scope and all its applications in the existing case law. This book tackles the standard of fair and equitable treatment by applying four conceptual frames: the legal basis of FET, its nature as a standard, its content and finally the implications of its breach. The first two chapters explore the two classical sources of international law as possible sources for FET. The main sources of FET lie in a rich conventional framework, mainly bilateral and regional. Yet the high number of BITs does not appear to offer a uniform model of FET clauses, quite the opposite; the book offers a classification of the FET clauses found in more than 400 BITs. Having concluded that the conventional framework is essential to FET, the book turns to the examination of the possible customary character of FET and argues that the view equating FET with the International Minimum Standard is erroneous and it limits the scope of FET. Alternatively, it suggests that the FET standard is an independent standard of customary nature. Then the book looks at the nature of FET, that of being a standard and retains three direct consequences for its meaning: its flexibility, the absence of a fixed content and its evolutionary character. With these three characteristics in mind, it proceeds to the third conceptual framework, the content of FET. Although no fixed content may be given to it, it identifies and develops each one of those situations in which the FET standard has already been applied. Finally, the last conceptual framework aims at discussing the final act of a FET claim, i.e. the amount of compensation awarded. It argues that FETis a standard which balances the interests and behaviours of both the States and the investors, at the stage of compensation.

Since the beginnings of the GATT and the Bretton Woods institutions, and on to the creation of the WTO, states have continued to develop institutions and legal infrastructure to promote global interdependence. International economic law, a field dominated by legal regimes to liberalize international trade but that also includes international financial law and international law relating to economic development, has become a dense web of treaty commitments at the multilateral, regional, and bilateral levels. International lawyers are experts in understanding how these institutions operate in practice, but they tend to uncritically accept comparative advantage as the principal normative criterion to justify these institutions. In contrast, moral and political philosophers have developed accounts of global justice, but these accounts have had relatively little influence on international legal scholarship and on institutional design. What is needed is a multidisciplinary approach to understanding the economic fairness problems that societies face as they become increasingly interdependent, and the solutions that international economic law and institutions might facilitate. This volume reflects the results of a symposium held at Tillar House, the American Society of International Law headquarters in Washington, DC, in November 2008, which brought together philosophers, legal scholars, and economists to discuss the problems of understanding international economic law from the standpoints of rights and justice, in particular from the standpoint of distributive justice.

This sixth volume (2015) of the European Yearbook of International Economic Law puts a particular emphasis on non-tariff barriers (NTBs) to trade and the world trade order. With the steady reduction of tariff rates since the GATT 47 came into force, focus in recent years has been on the vast and complex landscape of non-tariff barriers to trade. States as well as scholars seemingly struggle with the multitude of measures pooled under this expression as there is no single, acknowledged definition of the term, and its relation to the term “non-tariff measures” remains equally blurred. Particularly in practice and on a multilateral level, there appears to be some awkwardness when it comes to coping with NTBs since multilateral trade rules seem to be in conflict with national regulatory autonomy in the pursuit of policy objectives. In part one, this volume sheds light on the problems of non-tariff barriers to trade that arise in various fields. Part two focuses on regional integration with an emphasis on relations between East Asia and the European Union. In this regard, the authors outline the trade and investment relations between the European Union and East Asia, including Japan, Korea and Singapore. Part three offers an overview of recent institutional developments in WIPO, ICSID, WTO and WTO jurisprudence. Part four includes book reviews of recent works in the field of international economic law, and part five introduces a new section on publications in the field of international economic law that were released in 2013 and 2014.