I. Introduction
A. Space Technology and Law
Have you ever thought about who owns the satellite when you listen to the satellite radio, or watch satellite television? While society benefits from the satellite technology such as satellite television, radio, navigation, phone and so on, international organizations, governments and space industry are disputing over the ownership of the satellites, what space assets are, and how to get financing. Likewise, defining space assets and the protection of financiers to space assets is very new and critical for the entertainment and space industries. This is because of the tremendous capital and interest of investors is related to space assets and they have great potential to be developed more.
Although the space technology contributes to the entertainment industry only with the satellite technology for now, it is being developed and improved. A lot of investors are willing to involve the space technology and industry because they can see the potential of the space technology and space assets. Also, commercial space means business to entrepreneurs.
However, it also has a big risk, for example, when the satellite or spaceship explodes before or after launching or it loses its orbit, investors lose their money and efforts. Also, as the space assets are mobile and cannot stay in a certain jurisdiction, it makes defining the ownership of space assets more difficult. Therefore, investors and governments want to be secure and try to set a legal protection. Representatively, the UNIDROIT, International Institute for the Unification of Private Law,[1] makes a great effort to gather all people involved the space industry and they discuss to legislate a uniform international space law for the private sector.
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