#1(36)'13

marTlmsajuleba
N1
da
kanoni
REGARDING SOME ASPECTS
OF INTERNATIONAL
INVESTMENT LAW
IA KHARAZI
Professor at Sokhumi State University, Faculty of Law
TAMAR GARDAPKHADZE
Full Professor at Davit Aghmashenebeli University of Georgia, School of Law
Investment law is in essence a wider representation and realization of the
ownership right notion that has certain peculiarities. In particular: firstly, this law
covers only foreign property and its protection through international-legal
instruments. How domestic laws of different countries treat foreign capital remains
a separate topic, but this issue is fundamental and naturally it is important in
international relations; secondly, foreign good -first of all intellectual property -
is interpreted within the frames of international investment law.
The Convention Establishing the Multilateral Investment Guarantee
Agency (MIGA)done at Seoul in 1985 gives more limited interpretation of
investments. MIGA’s guarantees are “automatically” granted only to direct
investments made in capital of the enterprise inclusive of financial investments.
In any case, investments as per Seoul Convention should be firstly made in
the form of a deposit (monetary or in kind, as well as in the form of intangible
assets exclusive of services); secondly, the deposit should not be for s short term;
thirdly, and most importantly, investments should be of an entrepreneurial
character, i.e. they should also imply certain entrepreneurial risks. It should be
not only capital investment, but also possible profit gained from the investments.
26