Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Author: Scarinci Hollenbeck, LLC
Date: September 1, 2015
The Firm
201-896-4100 info@sh-law.comIn 2012, Planetary Resources, Inc. announced that it planned to mine near-Earth asteroids for precious metals such as iron and platinum. The company attracted several high-profile funders, including Google Inc.’s Larry Page and director James Cameron. Several other companies have announced similar initiatives.
Although commercial space resource exploration is still in its infancy (no one has actually landed a manned spacecraft on an asteroid), lawmakers on Capitol Hill are currently considering legislation that would protect the property rights of U.S. companies that mine asteroid resources in outer space. The U.S. House of Representatives recently passed the Space Resource Exploration and Utilization Act of 2015 (H.R.1508), which is part of the larger SPACE Act (H.R. 2262).
“Asteroids are excellent potential sources of highly valuable resources and minerals. Space technology has advanced to the point that the private sector is now able to begin exploring and developing resources in space. Americans are willing to invest in asteroid mining, but they need legal certainty that they can keep the fruits of their labor.”
Under the proposed bill, resources mined from an asteroid would be the property of the entity that obtained them. The legislation specifically states that “[a]ny asteroid resources obtained in outer space are the property of the entity that obtained such resources, which shall be entitled to all property rights thereto, consistent with applicable provisions of Federal law and existing international obligations.”
The proposed space law also contains provisions intended to ensure that U.S. companies can legally conduct their operations without harmful interference.
Under the legislation, U.S. commercial space resource companies or foreign companies that voluntarily submit to the law statutory framework must “avoid causing harmful interference in outer space.” The Space Resource Exploration and Utilization Act of 2015 also authorizes operators to bring civil suits against “another entity subject to United States jurisdiction causing harmful interference to its operations with respect to an asteroid resource utilization activity in outer space.”
In addition, the legislation directs the White House to facilitate commercial development of asteroid resources. It mandates that the President “promote the right of United States commercial entities to explore outer space and utilize space resources, in accordance with the existing international obligations of the United States, free from harmful interference, and to transfer or sell such resources.”
As noted by the Wall Street Journal, the proposed commercial space exploration legislation is groundbreaking and controversial, with some critics questioning whether such unilateral action is even legal under existing space law treaties. Pursuant to the Outer Space Treaty of 1967, “[t]he exploration and use of outer space, including the moon and other celestial bodies, shall be carried out for the benefit and in the interests of all countries, irrespective of their degree of economic or scientific development, and shall be the province of all mankind.” The treaty further states that “[o]uter space, including the moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.”
Accordingly, companion legislation introduced in the U.S. Senate by Sens. Patty Murray and Marco Rubio will likely generate additional study and debate. Stay tuned for updates.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.

How Courts Evaluate Testamentary Capacity and Undue Influence Will contests in New Jersey are difficult to win, given the strong presumption that a properly executed will reflects the testator’s intent. However, challenges based on lack of testamentary capacity and undue influence remain common, particularly where there are concerns about mental capacity or the involvement of […]
Author: Marc J. Comer

Bringing on outside investors can provide the capital and strategic support a business needs to grow. However, raising capital also introduces important legal, financial, and operational considerations. Before bringing on investors, businesses should address key legal issues to reduce risk, streamline investor due diligence, and position the company for long-term success. Early preparation signals that […]
Author: Dan Brecher

How the Updated Law Shapes Retirement and Estate Planning The SECURE 2.0 Act of 2022 materially reshapes the required minimum distribution (RMD) landscape, extending tax deferral opportunities while accelerating distribution requirements for many beneficiaries. For high-net-worth individuals and families, these changes are not merely technical. They require a reassessment of retirement income strategies, beneficiary planning, […]
Author: Marc J. Comer

Small businesses considering buying commercial property in New Jersey must evaluate a range of legal, financial, and operational factors. While ownership can offer long-term value and control, it also introduces significant risks if not properly structured. This guide outlines key considerations to help New Jersey business owners make informed decisions, minimize legal exposure, and successfully […]
Author: Robert L. Baker, Jr.

On January 28, 2026, staff of the U.S. Securities and Exchange Commission’s Divisions of Corporation Finance, Investment Management, and Trading and Markets issued a joint statement clarifying how existing federal securities laws apply to tokenized securities. The SEC’s “Statement on Tokenized Securities” does not establish new law, but it does provide greater clarity on the […]
Author: Dan Brecher

Operating a business in the New Jersey and New York City metropolitan region offers incredible opportunities, but it also requires navigating a dense and highly regulated legal environment. From entity formation to regulatory compliance, seemingly minor legal oversights can expose business owners to significant risk. In our work with businesses throughout the region, our attorneys […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!