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Firstly remember the TPP is secret, only the Multinationals that are writing it and the Governments that are rubber-stamping it know for sure what is in it. We are going only off leaks from Anonymous, Wikileaks and similar sources. But the leaks are extensive and contain large sections of the actual document. 

More than anything else what you are giving up is  equality before the law. Australian Courts will not be able to decide any matter to do with the TPP. Even the High Court of Australia will have no standing. These "Investor State Disputes" will be handled by a new international Court. This Court does not have judges, it has Lawyers who act as Judges, but who are actually employed by the Multinationals. One would expect these Lawyers would make rulings based on wanting to continue being employed by the Multinationals, so the chances of we the people getting a fair go are zero. That blindfolded lady with the scales of justice? - the Multinationals dumped her body in the river years ago. 

Now I hear you ask, why would politicians agree to this? That is a seperate story.

Now expect a lot of attempts to confuse the issue by the Elite. The truth is this. How the Multinationals will use the TPP is not in dispute. We can simlpy look at how they have used their ISD powere in Countries where they have been given this power: