Legal and Trade Ramifications of Selling Virtual Items to Players
Currently, millions of people participate in Massive Multiplayer Online Games and there are hundreds more in development. These online worlds allow users to do just about anything, including gambling, shopping, networking, earning money and getting into disputes. These virtual worlds also develop and grow their own economies which then interact with real-world economies whether the game publisher wants it to or not.
This presentation will look at MMOGs such as World of Warcraft, Vanguard, and Second Life to examine virtual property and the intersection of real money in a virtual world. We'll look at several issues such as: What is virtual property and who owns it? What is the legal status of an in-game currency? What should game publishers do to protect themselves, to promote these economies, or both? What are the tax and income implications of buying and selling virtual property? What are some of the business issues in hosting MMOGs and real cash economies? How do real-world legal issues like gambling and illegal lotteries play out in an interactive world? We'll also provide some information about different approaches to MMOGs outside the USA and some initial thoughts about recent MMOG regulations in China.
Intended Audience: All
Prerequisites: None
Format: Lecture
Date/Time: Friday, 11:00 AM
Room: Congress
