Jurisdiction(s):
United Kingdom

Key definition

Investment definition

What does Investment mean? In practice, investment describes an asset or bundle of rights committed in a host state with the aim of generating a return. In investor-state work, the operative definition is treaty-specific: most bilateral investment treaties (BITs) and the Energy Charter Treaty use broad, asset-based lists covering, where applicable, tangible and intangible property located in the territory, shareholdings and other equity interests, contractual rights (including concessions), intellectual property, and loans or claims to money, subject to stated carve-outs. The ICSID Convention does not define investment; tribunals assess jurisdiction by the treaty text and case law, commonly considering a contribution of resources,...

L&D in law firms: a step-by-step guide to evidencing need, full costs, ROI/ROE, presenting the case, and evaluating impact

Published by a LexisNexis Practice Management expert

Practice notes

This Practice Note sets out advice on crafting a compelling business case for learning and development (L&D). For any organisation, L&D is a material outlay. With a multitude of options available, you must define a robust case for any proposed L&D activity to evidence its impact on the bottom line. Doing so secures initial funding and demonstrates continuing value to the organisation over time. To warrant the cost, every L&D initiative should be tightly linked to business goals, ensuring spend is clearly justified. Without this discipline, it is difficult to show how L&D supports commercial performance.

The challenges of building a business case for L&D

The principal difficulty lies in the asymmetry between clear, quantifiable Costs and the more elusive benefits or return on Investment (ROI). When outcomes are poor, the absence of training is an easy scapegoat; when performance is strong, isolating the specific effect of insufficient training becomes far less straightforward. It is therefore vital to define the anticipated L&D Contribution before commissioning any programme, and to track, measure and report the realised contribution thereafter. Properly capturing outcomes ensures the value is visible and accountable...

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Beth Pipe , FCIPD

OnLive Learning

Beth is a Fellow of the Chartered Institute of Personnel and Development (FCIPD) and has spent over 25 years specialising in Learning and Development. During that time she has worked across a broad variety of different industries and has, for the past 15 years, worked closely with a number of well known law firms; this has involved putting in to place systems and structures to encourage, enable and track the effectiveness of learning activities. Adept at face to face course delivery, and always enjoying excellent feedback, Beth is also accomplished at online delivery and created OnLive Learning in response to the challenges presented by the 2020 Covid-19 restrictions.Beth has written extensively for LexisNexis on subjects such as Performance Management, Managing Change and Stress Management. Away from her training delivery she is a published author writing about local history, hiking, wildlife and the outdoors and is...

Web page updated on 21/05/2026

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