This document addresses the Bilateral Investment Treaties (BITs) and the effect they have on the protection of the Intellectual Property agreed between both parties. It exposes the specific case of the BIT between Colombia and Spain, analyzing the specific clauses related to the subject. Finally, it concludes that for a country like ours, that is, a Developing Country (DC), it is more convenient to boost debating and negotiating Intellectual Property in the international forums of the World Trade Organization (WTO), World Intellectual Property Organization, or even the Andean Community of Nations rather than bilateral relations, as it happens in investment agreements. However, due to the government’s incursion to the BIT trend, this paper also concludes with a series of recommendations to fit the handling of IP in this context, and others, to be prepared in case there are any claims by investors whose rights may result infringed.