When you register your taxonomy you can create the rewrite rule for the slug
register_taxonomy(‘investment_country’,array(‘investment’), array( ‘hierarchical’ => true, ‘labels’ => $labels, ‘show_ui’ => true, ‘query_var’ => true, ‘rewrite’ => array( ‘slug’ => ‘country’ ), ));
so whenever I’m showing something that I have included in the country taxonomy I get
http://www.domain.com/country/unitedkingdom for example
don’t forget you’ll need to resave your permalinks