Citation: 4A_398/2017 E. 1

1. The term 'investments' means any kind of tangible and intangible assets [which are] invested by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with its legislation, including: a) movable and immovable property, as well as any other related property rights; b) monetary funds, as well as securities, commitments, stock and other forms of participation; c) intellectual property rights, including copyrights and related rights, trademarks, rights to inventions, industrial designs, models, as well as technical processes and know-how; d) rights to engage in commercial activity, including rights to the exploration, development and exploitation of natural resources. Any alteration of the type of investments in which the assets are invested shall not affect their nature as investments, provided that such alteration is not contrary to legislation of a Contracting Party in the territory of which the investments were made.