Multilateral negotiations are stalling. Unable to get what they want, corporations are now relying on bilateral and regional treaties to push their investment interests. They are using Bilateral Investment Treaties (BITs) to challenge national and local laws, taxes and other government actions, or to push through new obligations such as more intellectual property rights.

Some companies are using existing or specially-negotiated BITs to get more out of concession agreements. Under the umbrella of BITs, companies are imposing Host Government Agreements (HGAs) that dictate the legal framework under which a company's proposed project, such a dam or an oil pipeline, will operate. The Agreements give effective control to a company over national legislation and regulations that apply to their activities -- and require the country to compensate the corporation if it enacts any new law that affects corporate profits.

This article describes and illustrates how corporations are imposing a new era of resource colonialism by means of these agreements with examples from the former Soviet Union, West Africa and Iraq.