What they want and what they need: the new role of the jurist in assisting the young space companies

Abstract

'New Space' economy is an all-inclusive concept that synthesises a real economic revolution in the space industry. It is characterised by the proliferation of new private actors that operate separately from institutional and governmental structures to seek their place in the market. Their primary objective is to allow low-cost access to space technologies, establishing themselves as one of the major growth engines of the space economy, fostering market competitiveness and technological development. Aware of this key role played by these new actors in the future development of the space industry, this paper adopts an empirical approach in order to obtain relevant information from those directly concerned, with the aim of identifying the crucial factors for their successful integration into the market and for their long-term permanence in the market. We have conducted 50 live interviews with founders and executives of small scale and start-up space companies from all around the world. The interviews are recorded and answers quantified to produce meaningful statistical data. Based on these results, the paper will focus on one of the fundamental problems for new actors. It will analyse these and further present possible inputs that can contribute to the development of the new space economy: The legal and bureaucratic dimensions in which new space companies are born and how they develop. In particular, the paper will explore the need to improve access to legal services from an economic point of view, with a focus on paralegal services; the difficulty shown by those directly concerned in guiding legislation on space activities and the need to rethink the training of lawyers, to make it more adherent to the peculiarities of the new space economy. In conclusion, after a reflection on the impact of the new space economy on the current market dynamics, with the analysis of the area of interest identified above, the paper will infer useful elements to set up some guidance suggestions for the implementation of the pathways of integration and development of young companies operating in the space market. This perspective, includes a reflection on the multidisciplinary dimension involving space activities and the opportunity to stimulate educational programmes with a training offers that reflects the now inevitable need for a less sectoral preparation that allows professionals in the space sector to acquire a more comprehensive view of the dynamics of the market.