Kothakota Akshara Sai Thrishna, Christ (Deemed-to-be University), Hosur Rd, Bhavani Nagar, S.G. Palya, Bengaluru, Karnataka
ABSTRACT
Property rights are well-defined and implemented most commonly on land and water to a certain extent, wherein states of the international arena can exercise their jurisdiction over specific nautical miles on their coast. But the concept of property rights in contrast to land and water, is a newly emerging one and is still yet to be widely discussed for its equal division and distribution. The concept of property rights in space dates back to a historical period of 1919 wherein international law granted property rights to certain states, later backed up by the Chicago Convention of 1944. Furthermore, there has been the implementation of contemporary international treaties and agreements like the Outer Space Treaty of 1967, the Moon Agreement of 1979, and the Artemis Accords of 2020, granting property rights to certain nations in outer space. But there is a high possibility of misuse of these rights, especially by the developed and First-World countries. Countries who are signatories to these treaties and agreements cannot essentially own space but can certainly exercise property rights over the same, leading to a high possibility of potential misuse. This research paper seeks to analyze the potential advantages and disadvantages of granting states property rights and draw a conclusion on the extent to which such rights must be granted. To elaborate on the same, the paper will also provide suggestions and recommendations on how equal property rights must be granted to all states irrespective of their development status to prevent any plausible misuse of such rights.
Keywords: Treaties, Agreements, Misuse, Signatories, States
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