This paper discusses the issue of technology transfer in the context of international investment agreements (IIAs). Two broad policy approaches to technology issues are identified. One is the regulatory approach, which, though preserving the essential characteristics of intellectual property rights, seeks to intervene in the market for technology so as to rectify perceived inequalities in that market as between the technology owner and the technology recipient. A contrasting approach sees the transfer of technology as being best undertaken in a market-based environment. Thus the emphasis is not on regulation or intervention in the technology transfer process, but more on the creation of conditions for a free market transfer of technology (protection of private rights to technology based on intellectual property laws).