Risks of space market and liability in commercial space ventures

(12)International law has recognised for a long time now the relevance and validity of custom and practices as a basis for the creation of principles and of new norms of the international corpus iuris. There is a large potential liability for any organization involved in commercial space ventures. Parties should agree to arbitrate any disputes and the forum and law applicable should be designated. Predictable risks and uniformity of laws and policies specifically enacted to deal with the unique relationships and issues arising from the commercial use of space will promote innovation and growth. Extreme care must be exercised so that the intent of the parties is expressed in clear, plain and unambiguous language.