Massively^™

That epic mount? That sweet sword? All that gold you have stashed away? All the time spent leveling your character? The mount, the sword, the gold, and your character -- none of them are yours. All can be swept away at the whim of the game company, because virtual property, such as in game items, don't really exist, and thus you have no rights over them.

Columbia Law School graduate Daniel Gould argues that a limited recognition of the rights of players to their virtual property would benefit both the the players and the virtual world companies themselves. An astounding position -- virtual world companies are notorious for laying claim to everything that exists or happens in their games, with some notable exceptions. The developer might make a decision that devalues your virtual goods -- for instance, your Uber Sword of Sweetness could begin dropping from newbie field trash mobs. Or all teleports to your virtual homestead could suddenly disappear. Gould explains how models based off real-world property law could show the way to giving the dwellers in virtual worlds some legally-recognized recourse for their grievances.

Virtual property law is a minefield because the very first time a judge assigns a real-world monetary value to virtual property, it can be taxed. And then, everything changes.