The 1967 Outer Space Treaty specifically states that appropriation of property is not permitted by
sovereign nations and the Moon Treaty declares moon and celestial bodies to be the common heritage of all
mankind. It is a common notion that the concept of private property is non-existent in view of the existing
treaties .There is a growing opinion that recognition of property rights is essential in space activities. It is
advocated that for the maximum utilization of the resources in space, which may include both commercial and
non-commercial activities, private participation is essential. The paper examines the current position, need and
feasibility for private participation and recommends possible mechanisms for the incorporation of property rights
in Corpus Juris Spatialis.