Dynamism of " Investment" Concept in Light of ICSID Determining Jurisdiction Methodologies

It is passing nearly half a century from the ICSID activity and during this time, the concept of “investment” has changed to most controversial issue and the subject of many cases in this area. In one hand, the lack of definition in Washington convention and on the other hand, the dependence of ICSID tribunals for authenticating their competence on “double barreled” test which based on both relative treaties and Washington convention, caused that ICSID tribunals adopt various methodologies for identifying an “investment”. As a result, this can enhance the challenges in this area. This paper with the purpose of better understanding of these methodologies, seek to find a solution for the question of which perspective is more in accordance with the dynamic concept of “investment” and in fact, how they can unify the subjective legal concepts with objective Phenomena with regard to Washington convention.