Who owns the moon? What about Mars?

For now, the answer is no one, but as more private companies, billionaire entrepreneurs and national governments start casting their eyes on space, the question could change from a futuristic problem into a real issue.

Under the 1967 Outer Space Treaty, which governs international space law, no one nation can claim sovereignty over a body in space. But there could be a loophole.

Full blown colonization and settlement of other planets, moons and even asteroids might actually happen, says space policy consultant Rand Simberg, if a government could provide one thing: property rights.

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