This open access book examines the multiple intersections between national and international courts in the field of investment protection, and suggests possible modes for regulating future jurisdictional interactions between domestic courts and international tribunals. The current system of foreign investment protection consists of more than 3,000 international investment agreements (IIAs), most of which provide for investment arbitration as the forum for the resolution of disputes between foreign investors and host States. However, national courts also have jurisdiction over certain matters involving cross-border investments. International investment tribunals and national courts thus interact in a number of ways, which range from harmonious co-existence to reinforcing complementation, reciprocal supervision and, occasionally, competition and discord. The book maps this complex relationship between dispute settlement bodies in the current investment treaty context and assesses the potential role of domestic courts in future treaty frameworks that could emerge from the States' current efforts to reform the system.The book concludes that, in certain areas of interaction between domestic courts and international investment tribunals, the "division of labor" between the two bodies is not always optimal, producing inefficiencies that burden the system as a whole. In these areas, there is a need for improvement by introducing a more fruitful allocation of tasks between domestic and international courts and tribunals - whatever form(s) the international mechanism for the settlement of investment disputes may take.Given its scope, the book contributes not only to legal analysis, but also to the policy reflections that are needed for ongoing efforts to reform investor-State dispute settlement.

This work consists of a selection of key papers presented at the first Anglo-Japanese Comparative Law Conference, held at Jesus College, Cambridge in September 1996. The conference was organized under the auspices of the Institute of Advanced Legal Studies, University of London; the University of Tsukuba, Japan; and Murdoch University in Australia. The conference brought together a number of leading business lawyers from around the world, who discussed the impact of globalization on commercial law. If the internalization of trade and business has produced problems for lawyers, the impact of globalization, particularly in such areas as the capital markets, has proved to be even more problematic. The implications for all those who operate in the commercial and financial sectors, and for those who advise them, of developments in the nature and character of the markets are increasingly significant. The publication should be of interest to academics, those involved in trans-national business, and legal practitioners.

This book explores the ways to 'rethink', 'repackage' and 'rescue' world trade law in the post-COVID-19 era. Using the COVID-19 pandemic as an important context, the book makes original and critical contributions to the growing debate over a range of emerging challenges and systemic issues that might change the landscape of world trade law in the years to come. The book asks: do these unprecedented times and challenges call for reengineering the world trading system and a further retreat from trade liberalisation? The authors offer a rigorous and insightful analysis of whether and how the existing trade institutions and/or rules, including their latest developments, may provide room to deal with pandemic-induced trade-related issues, sustainable development goals, future crises and other existential threats to the multilateral trading system. The book reinforces the importance of international cooperation and the pressing need to reinvigorate the world trading system. The pandemic has provided a unique opportunity for governments to rebuild the political will needed for such cooperation. One should never let a serious crisis go to waste.

This innovative Research Handbook explores the complex and controversial interactions between intellectual property (IP) and investment law. In light of recent developments at national, European and international levels, the chapters critically examine the legitimacy of current practices with regard to the social function of IP rights and the regulatory autonomy of States to undertake measures in the public interest. Internationally renowned contributors analyse high profile cases in the framework of global legal forums and agreements, such as the Global Agreement on Tariffs and Trade and the WTO. Exploring the significance of fundamental human rights and ethical concerns, this Research Handbook will provide critical insight into intellectual property law, particularly with respect to the protection of IP as an investment, and its adjudication in the context of investor-state dispute settlement (ISDS) mechanisms. Comprehensive and engaging, academics and higher-level students working on intellectual property, investment law, European law and international law, will benefit from this Research Handbook. Specialized lawyers and practitioners, as well as organizations or governments involved in IP regulation, will also take advantage from its insight. Contributors include: E. Bonadio, G. Cook, C. Correa, T. Cottier, R.C. Dreyfuss, S. Frankel, S. Gaspar-Szilagyi, C. Geiger, R. Geiger, D. Gervais, H. Grosse Ruse-Khan, C.M. Ho, M. Husovec, S. Klopschinski, A. Marsoof, B. Mercurio, T. Mylly, R.L. Okediji, P. Roffe, D. Segoin, X. Seuba, P.N. Upreti, L. Vanhonnaeker, H. Wager, P.K. Yu

This book analyses the adequacy of Mongolia's legal system for foreign investment protection by conducting a multi-level assessment of international investment treaties, domestic legislation of the host State, and investor-State contracts from an international comparative perspective. The investigation distinguishes between three legal dimensions, each of which offers both substantive legal guarantees for the protection of investments in the host State and provisions for the settlement of investment disputes by arbitration. In the first dimension of Public International Law (PIL), Mongolia is bound by international investment treaties, which offer investors an international law setting. In the second dimension, a special domestic investment law defines the domestic framework for the establishment, promotion and protection of investments, but also for the conclusion of investor-State contracts. These contracts in turn open a third legal dimension, which represents a cross-section through the PIL and domestic-law dimensions of investment protection. Following the development of a multi-level system with legal dimensions that are not isolated but rather interrelated and mutually reinforcing, the book examines whether Mongolia's international investment treaties and domestic investment law reflect globally shared international and domestic standards of treatment and protection of foreign investments. Lastly, the author inquires whether the domestic laws applicable to investor-State contracts in Mongolia allow investors and the Mongolian Government to agree on protective terms according to the (not uncontroversial) standards of international contract practice.

This book examines the issue of foreign investor misconduct in modern international investment law, focusing on the approach that international investment law as it currently operates has developed towards foreign investor misconduct. The term 'misconduct' is not a legal notion, but is used to describe a certain phenomenon, namely, a group/class of actions. This term is convenient since it makes it possible to introduce and describe the phenomenon as such, without a division into concrete types of conduct, like 'abuse of process', 'violation of national law', 'corruption', 'investment contrary to international norms and standards', etc. The term 'misconduct' is intended to embrace various kinds of conduct on the part of foreign investors that the system of international investment law does not accept - such as that which it regards as illegal, against public policy, or otherwise inappropriate - and triggers legal consequences. Rarely, however, does international investment law clearly articulate what it considers unacceptable investor conduct, and certainly not in any systematic fashion. As such, this book addresses the following questions: What types of investors' conduct are legally unacceptable? What mechanisms are available to deal with unacceptable investors' conduct, and what are the legal consequences?

The 2007 - 2010 global financial crisis re-opened the debate on the reform of the international monetary and financial system. This well-argued book demonstrates the strategic role of international economic law (IEL) in ensuring international monetary stability and global financial stability. After discussing the current allocation of powers among IEL institutions, Annamaria Viterbo focuses on monetary measures: exchange restrictions, capital controls and exchange rate manipulations. These three fundamental topics are then examined through the lens of a multi-layered methodology, adopting perspectives from international monetary law, trade law and investment law. The author evaluates how the horizontal sectors in which IEL is traditionally divided interact and how conflicts between norms are avoided or solved. Particular attention is also devoted to the outcomes of trade and investment disputes that deal with monetary measures. International Economic Law and Monetary Measures will appeal to international trade law and international financial law scholars as well as law and business students. Legal practitioners and officials working in the field of international economic law will find it a useful reference, as will legal counsel in banks and financial institutions, international investors and multinational corporations. Contents: Introduction 1. International Monetary Stability and Global Financial Stability as Global Public Goods and the Role of International Economic Law 2. The Bretton Woods Institutions and their Role in the Provision of Global Public Goods: Focusing on International Monetary Stability 3. The Global Financial Architecture: Towards a Strengthened Institutional Framework for Global Financial Stability? 4. Exchange Restrictions and Capital Controls under the IMF Legal Framework 5. Exchange Restrictions and Capital Controls under the WTO Legal Framework 6. Exchange Restrictions and Capital Controls in International Investment Law 7. Exchange Rate Manipulation in International Economic Law Index

This book is the first-ever to explore commercial arbitration in the Ethiopian context. Alternative conflict resolution mechanisms are nothing new to the country: arbitration as a dispute settlement mechanism by which a third party issues a binding decision on a dispute between two or more parties by exercising the jurisdictional mandate conferred on it by the parties themselves was established with the adoption of the Civil Code in 1960. This pioneering book evaluates the extent to which Ethiopia's laws and institutions allow disputing parties to effectively reap the benefits of international commercial arbitration. It interprets the relevant legislation and attempts to bridge the gaps in it, in order to help lawyers, arbitrators, arbitral institutions, academics and judges to understand and apply it. It also helps parties seeking to complete international transactions pertaining to Ethiopia make the right choice regarding conflict resolution.

Since the prohibition of the threat or use of force and the resurgence of (economic) nationalism, economic warfare has become an increasingly important substitute for actual hostilities between states. Its manifestations range from medieval sieges to modern day trade wars. Despite its long history, economic warfare remains an elusive term, foreign to international law. This book seeks to identify those portions of international law that are applicable to economic warfare. What is the status quo of regulation? Is there a jus ad bellum oeconomicum? A jus in bello oeconomico? After putting forward its own definition of economic warfare, the book reviews historical case studies - reflecting the three main branches of international economic law: trade, investment and currency - to identify pertinent legal boundaries. While the case studies reveal that numerous rules of international (economic) law regulate (specific measures of) economic warfare, it remains to be seen whether - analogously to the prohibition of the threat or use of force - these selective limitations have the potential to coalesce into a general prohibition of economic warfare in the future.

This book offers a distinctive critical discussion of the relationship between sovereign debt and socio-economic human rights in the context of the contemporary global neoliberal economic order, going beyond strictly 'post-crisis' approaches and emphasising the structural character and consistent growth of public and private indebtedness. It reflects on the implications of mounting debt for the actual ability of States to realise human rights in a world of escalating indebtedness, inequality and insecurity. It expands existing definitions of neoliberalism by reflecting in particular on neoliberalism's epistemological underpinnings, and provides a comprehensive and systematic analysis of the 2009 Greek debt crisis and the main elements of post-crisis developments in international and EU law, arguing that the 'neoliberalisation of law' has essentially been advanced in the wake of the Eurozone debt crisis.

This book focuses on product design which is evolving conceptually and practically with advances in technology. Product design is no longer solely about product stylization and decoration, but rather about providing a holistic product experience for the consumer. Therefore, in the foreseeable future, product designs will increasingly communicate not only to our eyes, but to our other senses as well. This book examines the frameworks for the protection of product designs in New Zealand and Australia and evaluates the appropriateness of expanding legal mechanisms for the accommodation of product design evolution. The value of more holistic design protection is balanced against other important considerations such as the "right to repair". The book not only anticipates the extent to which product design will cater to senses other than visual, but also provides a novel framework (with reference to industry examples) for discerning originality in such work for the purposes of copyright. This book also makes suggestions for how designs can be protected from foreseeable infringement (analogous to copyright infringement of music and movies on file sharing networks) resulting from future advances in technologies such as 3D printing and virtual reality.

This book investigates patterns of fragmentation and coherence in the international regulatory architecture of public procurement. In the context of the major international instruments of procurement regulation, the book studies the achievement of social and labour policies, the most controversial and problematic instrumental uses of public procurement practices. This work offers an innovative comparative approach, discussing the ways in which the different international instruments-namely the EU Procurement Directives, the WTO Agreement on Government Procurement, the UNCITRAL Model Law and the World Bank's Procurement Framework-are able to implement labour and social purposes and, at the same time, ensure a regulatory balance with the principles of efficiency and non-discrimination. Scholarly, rigorous and timely, this will be important reading for international trade lawyers and procurement practitioners.

In 1998, the city of The Hague commemorated its 750th anniversary. To emphasize that The Hague has been an international judicial center of activities for several decades, a special International Law Conference was organized by T.M.C. Asser Instituut in co-operation with the 'Stichting 750 jaar Den Haag'. The programme of The Hague's 750th Anniversary International Law Conference concentrated on the following themes: international criminal law, interstate dispute settlement, international commercial arbitration, international humanitarian law and the regulation of international trade. Within this framework, a number of panels were devoted to aspects concerning the International Court of Justice, the (future) International Criminal Court and the Iran-US Claims Tribunal. Leading experts as well as representatives of the Netherlands Ministry of Foreign Affairs and various international institutions based in The Hague participated in the programme. This publication is intended for anyone interested in an analysis of the law and practice in these institutions.

On the 25th anniversary of the establishment of the Hong Kong Special Administrative Region of the People's Republic of China, this book presents the first monographic study of the Hong Kong Basic Law as an economic document. The Basic Law codifies what Gonzalo Villalta Puig and Eric C Ip call free market constitutionalism, the logic of Hong Kong's economic liberty as the freest market economy in the world. This book, which is the outcome of several years of study with the financial support of the General Research Fund of Hong Kong's Research Grants Council, evaluates the public choice rationale of the Basic Law and its projection on the Hong Kong economy, with a focus on the policy development of economic liberty both internally and externally. In the academic tradition of James M Buchanan's constitutional political economy, the book opens with a conceptualisation of free market constitutionalism in Hong Kong. It studies the origins of this concept in the 19th-century classically liberal common law and how it developed into a Hayekian laissez-faire convention under British colonial rule, was codified into the Basic Law and is interpreted and applied by the branches of the Government of the Region. The book closes with remarks on the future of Hong Kong's free market constitutionalism in face of recent challenges as the year 2047 approaches and the 50 years of 'unchanged' capitalist system under the Basic Law come to an end. This book will appeal to students, scholars and practitioners of law, economics, political science and public administration. It will especially appeal to those with an interest in Hong Kong law, international economic law or comparative constitutional law.

This book presents a new framework for the 'trade and environment' debate and discusses the ways in which the EU and the WTO address this topic: positive, negative and non-integration. It analyses areas like food safety and renewable energy from the perspectives of legal and political science, and economics, and includes contributions focusing on various approaches, such as harmonisation, regulatory cooperation and judicialisation. In the 21st century, especially in our current times, where free trade and economic integration are increasingly being called into question, it is even more vital to find convincing normative answers and ways to address the very complex relationship between trade and environmental policies. Debunking some of the myths concerning positive and negative integration and the relationship between the two, this book is a valuable contribution to the debate on globalisation.

This book addresses topical questions concerning the legal framework of trade in services, and assesses how these issues are dealt with in GATS and in selected preferential trade agreements. In addition, the chapters discuss whether the differences and similarities (if any) are evidence of greater coherence or greater divergence. The book combines the individual analyses to provide a more comprehensive picture of the current law on services trade liberalisation.A quarter of a century after the conclusion of the General Agreement on Trade and Services (GATS), international law on trade in services is still in a state of flux: on the one hand, countries increasingly conclude bilateral and regional trade agreements with sections on trade in services that aim at a further liberalisation of services trade. On the other, the GATS structure remains the dominant model and serves as the basis for many preferential trade agreements. In addition, new aspects such as electronic commerce, data protection and taxation are now emerging, while issues that had already manifested in the mid-1990s such as financial services regulation, labour mobility, and telecommunications continue to be problematic. Usually, the debates focus on the question of whether preferential trade agreements serve as a stepping-stone or stumbling block for trade liberalisation at the multilateral level. However, it can be assumed that rules on trade in services in preferential trade agreements will coexist with the global GATS regime for the foreseeable future. This raises the question of whether we're currently witnessing a drive towards greater coherence or more divergence in agreements on trade in services.

Every international corporate executive, customs broker, banker, and attorney needs to know what the North American Free Trade Agreement (NAFTA) will mean to their business and their client's business. Understanding the North American Free Trade Agreement is an easy-to-understand summary and analysis of the major provisions and side agreements of this landmark accord. It is written in terms simple enough for the layman, but also contains the detailed information that will assist the experienced international trade executive or attorney. The new third edition updates NAFTA through the 2008 US elections and the activities relating NAFTA of the new Obama administration. The book contains extensive discussion of the NAFTA arbitration decisions, including summaries of important investor state cases in the Appendices. 'If you need a short, but authoritative discussion of NAFTA, this is the place to look.' ‒ J. Mattera, International Trade Information Resources

The book analyzes the most relevant developments in the relation between contracts and technology, from automatically concluded contracts to today's revolutionary "smart contracts" developed through blockchain, which are beginning to and will increasingly disrupt many economic and social relations. First of all, the author offers a broad analysis of the peculiarities and evolution of the relation between contracts and technology. The main features and elements of electronic contracts are then examined in depth to highlight the specific rules applicable to them in the international comparative legal framework. In turn, the book provides a detailed explanation of the technology, economic and social dynamics, and legal issues concerning blockchain and smart contracts. The analysis focuses on the question of the legal nature of smart contracts, the issues posed by their development and the first legal solutions adopted in some countries. The comparative approach pursued makes it possible to focus attention on the first solutions adopted until now in various systems, with particular regard to the circulation of models and ideas and to the specificities of their local variations, in terms of e.g. applicable law and jurisdiction. In reviewing the characteristics of distributed ledger technologies, and in particular of the blockchain technology on which smart contracts are based, above all the peculiarities of the latter are taken into consideration, especially automatic execution and resistance to tampering, which simultaneously present significant opportunities and complex legal issues. A comprehensive framework is then provided to reconcile smart contracts with comparative contract law, in order to define the scope and specificities of their binding force, legal effectiveness and regulation in various legal systems. Lastly, with specific reference to the elements, pathologies and contractual remedies for smart contracts, the book examines the peculiarities of their application and the main issues that emerge in comparative contract law in order to promote their harmonized use, in keeping with the transnational nature of such a revolutionary tool.

This edited volume explores the question of the lawfulness under international law of economic activities in occupied territories from the perspectives of international law, EU law, and business and human rights. Providing a multi-level overview of relevant practices, policies and cases, the book is divided in three parts, each dealing with how different legal fields have come to grips with the challenges brought about by the question of the lawfulness under international law of economic activities in occupied territories. The first part includes contributions pertaining to the international law dimension of the question. It contains chapters on the conjunction between jus in bello, jus ad bellum and international human rights law in the context of exploitation of natural resources in territories under belligerent occupation; on third party obligations flowing from the application of occupation law in relation to natural resources exploitation; and on State practice with regards to trading with occupied territories. The second part focuses on EU law and contains contributions that assess the EU's approach to occupied territories and the extent to which this approach comports with the EU's obligations under international law; contributions providing an in-depth assessment of the case-law of the CJEU on occupied territories; as well as contributions pertaining to the political considerations that may influence the legal framing of questions pertaining to occupied territories. The final part focuses on the business and human rights perspective, with chapters on investment arbitration as a means for holding the occupant accountable for its conduct towards foreign investments and investors; on the role and impact of the soft law framework governing corporate activity (such as the UN Guiding Principles) on business involvement with occupied territories; as well as a final case study on the dispute involving Israeli football activity in settlements located in the OPT and the legal responsibility of FIFA in this regard. The book will appeal to academics, practitioners and policy-makers alike.

This book offers a multidisciplinary account of the 'rule of law' as a central pillar of the classical liberal tradition. The authors analyze the original meaning of this expression as first introduced by British jurist A. V. Dicey, before examining its subsequent elaboration by Leoni, Fuller, Hayek and Oakeshott. Addressing the main philosophical and legal aspects of the rule of law, this volume will appeal to all those engaged in law, political theory, philosophy, economics, business ethics, and public policy.

The Dispute Settlement Reports are the WTO authorized and paginated reports in English. An essential addition to the library of all practicing and academic trade lawyers and needed by students worldwide taking courses in international economic or trade law. DSR 2016: Volume 4 reports on Russia - Tariff Treatment of Certain Agricultural and Manufacturing Products (WT/DS485) and India - Certain Measures Relating to Solar Cells and Solar Modules (WT/DS456).

This book argues that the European integration process (Europeanisation) is pushing the member states and candidate countries toward a greater convergence with the EU's competition acquis. Through the transposition of the Directive 2014/104/EU, the member states have harmonised substantive and procedural rules, which is beneficial to individuals and enterprises because it provides a minimum protection across all member states. In addition, it is commonly agreed in academia that the prospect of EU membership brings positive domestic changes in the candidate countries. At the moment, Albania is waiting to open negotiations for the chapters of the EU acquis. Firstly, this book addresses the evolution of private enforcement at the European level by examining the objectives, modalities, and actors that contributed to the development of private enforcement. Secondly, it analyses the Directive 2014/104/EU and how the three selected EU member states have transposed the directive into their domestic legal system considering the discretion margin left by Article 288 TFEU and a minimum harmonisation level defined in the directive. Thirdly, it provides a historical overview of private enforcement in Albania and shows how the Albanian Competition Authority has addressed the transposition of the Directive 2014/104/EU.

In the face of an increasing threat from separate bilateral trade negotiations the World Trade Organization (WTO), more than any other international institution, is set to have a significant impact on the trade in technology in the decade ahead. Alert to this potential, Rohan Kariyawasam brings together articles on international economic law and policy that touch on issues as diverse as telecommunications, e-commerce, information technology and technology transfer. This two-volume set navigates an innovative discussion of these sectors, their effect on international trade and the role of the WTO in promoting the worldwide trade of electronic goods and services. The papers will have relevance for regulators, lawyers advising both in private practice and in-house, academics, students and those in the NGO sector with an interest in trade and technology.

This book offers a multidisciplinary approach to the Dispute Settlement Mechanism (DSM) by bringing together contributions from legal scholars and political scientists. Most of the authors belong to a tightly knit legal epistemic community, trained at the University of Sao Paulo and at the top-ranked research and policy centers on WTO law in Europe. Presenting a novel and unique perspective on the DSM, it provides an analysis of current themes at the heart of the WTO Dispute Settlement Mechanism through the lenses of scholars with a "developing country" perspective. Focusing on assessment, substance, and process, it presents a three-fold approach to the analysis and offers a singular contribution to the scholarly literature on the WTO. The book discusses the topic from the viewpoint of individuals deeply involved in the scholarly production as well as the daily operation of the mechanism. The contributors include academics in the fields of international economic law and political science, diplomats, individuals engaged in legal private practice, and individuals affiliated with the WTO as well as WTO-related think tanks. The result is a balanced perspective on pressing issues that have arisen and that are likely to remain at the center of the scholarly and policy debate for years to come.

How substantive competition rules are enforced plays a crucial role in achieving their goals. This thoughtful book examines procedural issues that have arisen from the increased enforcement of competition law worldwide.Such issues are reviewed by expert contributors in Europe and around the globe. Special attention is paid to certain rights including the right to be heard, the right to defence, the right to protection of business secrets and the right to judicial review. The overarching structure of the book proposes an agenda for the solution of procedural fairness within competition proceedings for the future. This astute work will be a useful point of reference for scholars, practitioners and policy makers alike, who will benefit from the critical insight into how best to attain procedural fairness in the enforcement of competition law. Contributors: A. Arena, C. Beaton-Wells, M. Bernatt, M. Botta, M. De Benedetto, G. Di Federico, A. Foer, C.A. Jones, K. Kowalik-Banczyk, F. Marcos, P. Nihoul, P.J. Pipkova, A. Sanchez Graells, T. Skoczny, A. Svetlicinii, L. Tichy, P. Van Cleynenbreugel, D. Zimmer