ABSTRACT
The new legal regime for the oceans has established zones of maritime jurisdiction and specified rights and responsibilities for all states including landlocked states. The ocean is a unique, extraordinary and vital element of our planet. Biodiversity beyond national jurisdiction cannot be protected effectively unless countries act together. Management decisions should be based on the best available science and not on the lobbying of a powerful few. Societies are demanding more effective management of fisheries and marine ecosystems and there is an urgent need to ensure greater transparency and increased participation by stakeholders in managing high seas resources. Large corporations use these vehicles to meet specific objectives by way of obtaining finances, transferring risk and performing specific investment activities. For the ocean economy, Special Purpose Vehicles (SPVs) refer to an appropriate vehicle that will facilitate and encourage cooperation and collaboration within a defined multiuser ocean space.
