Abstract
Currently, virtual property is governed under a system where initial rights are allocated to traditional intellectual property rights holders, and subsequent rights are governed by license agreements called End User License Agreements (EULAs). The traditional intellectual property rights holders have been systematically eliminating any emerging virtual property rights which game players may be entitled to by the use of EULAs, causing an imbalance in resources and rights. Items and characters created in virtual worlds by players should be treated as intangible chattel while allowing the underlying designs and code of the game designers to retain their intellectual property rights.
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