The first ever final award on patents in international investment arbitration by ICSID in the case of Eli Lilly v. Canada has effectively cleared the way for raising future disputes by foreign IPR owners against domestic institutions which can result in stronger and robust IP protection regime.
Officials from ASEAN member states and other countries meeting in India this week for negotiations on the Regional Comprehensive Economic Partnership (RCEP) should take steps to ensure that the trade deal safeguards human rights, Southeast Asian lawmakers said today.
The cool reasoning of the Canadian Supreme Court does not acknowledge or reference “external” pressures or the Eli Lilly v. Canada ISDS case. However, courts do not decide cases in a vacuum. This case seems to have been decided in a pressure cooker.
Evidence suggests that the inclusion of ISDS in investment treaties may not actually be effective, or optimally effective, while at the same time, ISDS imposes significant costs on the sustainable development objectives of states.