Abstract
Key among the challenges thrown up by the introduction of spectrum trading is the definition of the property rights to be traded. For any market to work properly, buyers and sellers must know what they are giving or getting. It is therefore vital to ensure that this information is available. It has two major dimensions - commercial and technical. The former includes such considerations as how long a tradable licence lasts; the degree to which a licensee can lease it to others, fragment it or aggregate with other licences; the power that the government or the regulator has to re-acquire it through compulsory purchase and so on. The technical dimension - to which this article is devoted - deals principally with the definitions of licensee rights and obligations in relation to interference between users.
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