This thesis has considered the application of the concepts of ownership and possession to outer space. The fundamental differences those terms connote with reference to other forms of territory such as in national airspace and other landed territory has also been noted. The central summation of the tentative conclusions is that those terms have no relevance with respect to outer space activities. It was, thus, argued that the term licence should be used to express a state’s right to engage in outer space activities and to explain any form of exclusive use of territory or resources that are based in outer space. What remains to be considered is the exact legal regime that governs outer space activities. In other words, it is necessary to discuss the legality of the formula developed to govern the common ownership of outer space, i.e. the common heritage of mankind principle. 597