Some Business and Legal Considerations for the Virtual World Entrepreneur

Abstract

In this article, I discuss some of the business and legal issues posed by creating a virtual world-based business. In Part One, I start by briefly discussing some of the relevant lingo and terminology associated with virtual world use. In Part Two, I explore whether there is a real opportunity for success and profit-making potential in a virtual world-based business and some of the preliminary considerations when generating a business plan and strategy. In Part Three, I review the legal issues posed by operating a business in the virtual world, Second Life.

Keywords: virtual world, Second Life, gambling, UIGEA, World of Warcraft, virtual crime