Based on a conference held at the University of Vienna by the International Law Association Committee on the Law of Foreign Investment on Standards of Investment Protection, this book examines the growing interest in substantive treatment standards as a result of the increase in investment arbitration proceedings, and focuses on the identification of a possible consensus of interpretation of these substantive treatment standards. With contributors who are members of the ILA Committee, as well as renowned experts in the field of investment law from academia and practice, this collection examines the increased attention paid in recent years to substantive treatment standards as a result of the growing number of investment arbitration proceedings which have reached the merits stage. ICSID, NAFTA, UNCITRAL and other awards have helped to provide more specific meaning to the general standards of investment protection found in the majority of international investment instruments, in particular in bilateral investment treaties (BITs). It is thus crucial for a deeper understanding of the present law on the treatment of foreign investment to analyse this developing jurisprudence. This book will provide a first-hand road-map of current investment law and bring readers up to date concerning the most recent developments in the field.