Jan 06 2015

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“In any industry, legal uncertainty hinders private investment.”

Preach it, brutha! The linked article proposes a way forward for private space investment and property rights within the current Outer Space Treaty paradigm.

His key argument:

The very existence of the Moon Agreement leads one to question whether Article II prohibits all appropriation. If the Outer Space Treaty outlawed all types of appropriation in space under a blanket Article II prohibition, would it be necessary for a subsequent treaty to outlaw appropriation of the Moon and celestial bodies?44 The answer to that question seems to clearly be no. Taken together, these provisions show that the Outer Space Treaty does prohibit national appropriation in space, but leaves open the possibility of private appropriation. There is no denying that this possibility is ambiguous, however, and this ambiguity will serve as a reason for why the current system should be clarified or altered, but not replaced, to further encourage private investment in space.

Note that no major space faring nation has signed the Moon Treaty because it is too restrictive, which only lends credence to his argument.

I still say that the entire current regulation environment needs to be replaced with a NorthWest Territory equivalent, but I could be convinced to keep the current paradigm if space property lawyers agreed with the author’s conclusion above.

Permanent link to this article: http://www.newspaceraces.com/2015/01/06/in-any-industry-legal-uncertainty-hinders-private-investment/

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