Intellectual property (IP) and international investment law are highly self-contained regimes which have their own institutions, actors, and rationales. This paper analyzes the historical narratives of IP, investment and the World Trade Organization (WTO) and provides a comprehensive overview on the historical development of foreign investment protection at the international level. It traces the historical development of international investment agreements (IIAs) by investigating pre- and post- World War II Friendship, Commerce and Navigation (FCN) treaties in order to understand the rationale of including IP in those agreements. It then proceeds to examine the treatification of international investment law and the quest of investment to find a place in the multilateral system with reference to the negotiation of the Multilateral Investment Agreement (MAI) under the Organisation for Economic Co-operation and Development (OECD), followed by attempts to revive a multilateral framework on investment under the auspices of the WTO.