The text of an investment chapter for the Trans Pacific Partnership proposed by the U.S. has been leaked and placed online by Public Citizen’s Global Trade Watch. The definition of “investment” in Article 12.2 includes intellectual property rights. Article 12.12 places limits on a country’s ability to expropriate investments and sets rules on required compensation in the event that investments are expropriated.
The text includes a controversial section (“Section B”) on investor-state dispute settlement, which gives foreign investors the ability to sue governments over violations of the chapter’s obligations on investments. Footnote 20 carves Australia out of the obligations of the section – “Section B does not apply to Australia or an investor of Australia. Notwithstanding any provision of this Agreement, Australia does not consent to the submission of a claim to arbitration under this Section.”
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