The primary purpose of international investment law (IIL) is to protect foreign investment. Protecting innovation directly though, is not necessarily its intended goal. Since patents are defined as investments in international investment agreements, they potentially fall into the remit of IIL. Taking into account the role of patent law for innovation, a conflict can arise between the two legal systems. In light of that, this presentation will firstly explore the role of the patent’s innovative nature in determining whether a patent constitutes an investment. Secondly, it will analyse how an investment patent corelates with the stages of the innovation process.