Abstract
There are fortunes in space, and the feasibility of mining asteroids raises a lot of questions as to the ownership of the proprietary rights in space. Are there original owners in space resources or are the ownership rights merely derivative? Does the extraction of these minerals from asteroids automatically confer ownership on the resource mined? The determination of who owns these proprietary rights in space resources speaks to the owner's ability to extract use and dispose of these space resources; this is particularly so as an owner has full and final right of alienation, use and disposition of property or resources in space without seeking the consent of another party. The owner of a property or resources can use it for any purpose: material, immaterial, substantial, non-substantial, valuable, invaluable, and beneficial or even for the purpose detrimental to his personal or proprietary interest. This article discusses the legality or otherwise of the U.S. Commercial Space Launch Competitiveness Act 2015, and it further proposes that Article 1 of the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies (commonly known as the Outer Space Treaty) that speaks about “benefit and interest” of all, should be considered as laying the foundation of ownership in space resources. The article further introduces a balance of obligation in considering the principle of “benefit/equitable sharing.”
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