Two early decisions drive the threshold phase: whether to issue a trigger letter now (which starts the cooling-off clock and formally notifies the state of the dispute) and whether your situation is actually arbitrable under a treaty you qualify under. Before either, I typically run a short preliminary assessment — investment structure, treaty landscape, factual record. That conversation is the right point to decide whether a full claim-building effort is justified, and, if it is, which forum to target. I'd rather spend an hour together at the threshold than build strategy on assumptions.