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In this article, Jenner & Block Partner Patrick W. Pearsall discusses investor-state dispute settlement, or ISDS. He focuses on the tripartite role of the state itself, specifically what he calls the “ISDS Trinity”: the state’s systemic role as 1. law-giver; 2. protector of investment; and 3. respondent. He observes that “the ISDS Trinity sheds additional light on whether a reform to the system will be well-received by a state and thus enjoy a greater chance of adoption.”