Commercialization of space activities: Legal requirements constituting a basic incentive for private enterprise involvement

Commercialization of space activities requires a legal framework for private investors and entrepreneurs in order to promote and develop this sector of industry into a fully-fledged commercial enterprise. Apart from the already existing international public legal framework of space law, rules should be created to provide a level playing field for all interested parties. These rules should point to transparency of risks and liabilities and liberalization of the various space market segments. Another legal instrument will be that of dispute resolution among participants in the arena of space activities. For the more distant future the Moon Agreement should be reassessed in the light of resources exploration, management and exploitation against the background of private enterprise involvement.