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6 Chi. J. Int'l L. 81 (2005-2006)
Bringing Space Law into the Commercial World: Property Rights without Sovereignty

handle is hein.journals/cjil6 and id is 89 raw text is: Bringing Space Law into the Commercial World: Property Rights without Sovereignty Henry R. Hertzfeld* and Frans G. von der Dunk** I. INTRODUCTION International agreements declare that no government can claim outer space or celestial bodies in outer space as its own.' Private firms seeking to invest in potential space enterprises frequently point to these provisions as a major barrier to the future commercial development of space. Such businesses contend that the absence of property rights prevent them from obtaining external financing, hinder the protection of their investments in space, and deprive them of the assurance that they can appropriate income from their investment. In short, the lack of sovereignty in space jeopardizes the ability to make profits from private investment. Dr. Henry R. Hertzfeld, Adjunct Professor of International Affairs, Elliott School of International Affairs, Space Policy Institute and the Center for International Science and Technology Policy, George Washington University, is an expert in the economic, legal, and policy issues of space and advanced technological development. He has served as a Senior Economist and Policy Analyst at both NASA and the National Science Foundation, and has been a consultant to many agencies and organizations. He is the co-editor of Space Economics (AIAA 1992), as well as many articles on space economic and legal issues. Dr. Hertzfeld holds a BA from the University of Pennsylvania, a MA from Washington University, a PhD in economics from Temple University. He also has JD from the George Washington University and is a member of the Bar in Pennsylvania and the District of Columbia. Dr. Frans G. von der Dunk is Director of Space Law Research at the International Institute of Air and Space Law at Leiden University and Assistant Professor in Public International Law at the same University. He has published over 80 articles and presented papers to many conferences around the world. He has served as adviser to the Dutch and other Governments, the European Commission, ESA, the UN, the OECD and others on a number of issues related to space activities (space policy, privatization of space activities, GNSS, satellite communications, radio astronomy, earth observation). He received a Distinguished Service Award from the International Institute of Space Law (IISL). Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies (1967), art II, 18 UST 2410, 2413 (1969) (hereinafter Outer Space Treaty).

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