It denotes an applicable type of IfcElement, but in an object library context there would only be an IfcElementType (refer below and attached sample). I’d suggest there was merit in expanding the appropriate entity so these could be nominated including GlobalTradeItemNumber etc. I’m sure there are other psets similar.
Apologies if I am misunderstanding, are you suggesting that Pset_ManufacturerTypeInformation be applicable to FooType elements (IfcWallType, IfcFurnitureType, etc)?
If so, +1 from me. It makes more sense than a “by instance” which I believe it is right now.
Surprised this is not already the case. I could add IfcElementType to applicability in IFC4.2. Have to run it by with MSG but I think they should not have any objections.
Short update. There is an agreement in place that PSET_TYPEDRIVENOVERRIDE Psets do not require the corresponding Ifc…Type… applicability due to the enumeration already providing the information. So, you can easily move forward with that Pset and assign it to IfcElementType.