Considerable prospecting has been done in outer space to find
natural resources and mineral deposits that can be excavated.
Commercial space travel and tourism have been found technically
feasible and economically viable. So is the enthusiasm for
demographic migration to celestial bodies. Governments are not
inclined to invest in commercial development and allied ventures.
So, private players are ready, having harnessed technology and
mustered funds and enough guts to take risks. Thus, the commercial
scene in outer space activities is brimming with anticipation. The
challenge is legal. Space law brooks no sovereignty on celestial
bodies; private appropriation of celestial resources is not
permitted and profit accruals from commercial activities in outer
space have to be shared for the benefit of all countries. Other
incidental challenges are that the share of each country and the
modalities of distribution are not yet in place. And there is no
competent organization to ensure incumbent regulation and
compliance. Humanity should not be made to wait endlessly to enjoy
this bonanza from outer space. This book describes such
potentialities, discusses legal implications and explores the way
forward with practical suggestions for immediate action as well as
long-term plans for implementation.
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