Investment

• Protect the right of governments to regulate in the public interest.
   
• Ensure that investment disputes are handled in a transparent and rulesbased manner.
   
• Establish rules that provide for basic protection against discrimination. This includes:
  
  • National treatment (treatment no less favorable than a TPP country provides, in like circumstances, to its own investors or investments).
  • Most-favored-nation treatment (treatment no less favorable than a TPP country provides, in like circumstances, to another country’s foreign investors or investments).
     
• Provide basic protections against uncompensated expropriation of property so that property may not be seized by government without the payment of just compensation, consistent with United States Supreme Court jurisprudence.
   
• Prevent denial of justice, by which Americans could be denied basic due process in criminal, civil, or administrative proceedings abroad.
   
• Allow for the transfer of funds related to an investment covered under the Agreement, with exceptions to ensure that governments retain the flexibility to manage volatile capital flows.
   
• Prohibit specified “performance requirements,” including local content requirements, export requirements, and technology transfer or technology localization requirements.
   
• Ensure that investors have the ability to appoint senior managers without regard to nationality, and that nationality-based restrictions on the appointment of board members does not impair an investor’s control over its investment.
   
• Put in place strong safeguards to raise the standards around investor-state dispute settlement, such as by:
  
  • Discouraging and dismissing frivolous suits.
  • Allowing governments to direct the outcome of arbitral tribunals and to issue interpretations that are binding on tribunals.
  • Making proceedings more transparent by:
    • ​͘͘Conducting hearings open to the public.
    • ͘͘Making public notices of arbitration, pleadings, submissions, and awards.
  • Providing for the participation of civil society organizations and other outside parties through the submission of amicus curiae briefs by:
    
    • ​͘͘Labor unions.
    • ͘͘Environmental groups.
    • ͘͘Public health advocates.
    • ͘͘Other stakeholders.