Many moons ago, the space sector was an exclusive playground for competing national governments. Now, in the 21st century, private companies — many in the developing world — are increasingly the ones with their fingers on the launch button. But the commercialization of space raises some uncomfortable questions about exactly where profit is going. How can we ensure that the benefits extend to those left behind back on Earth?

You’re no doubt familiar with the likes of SpaceX and Blue Origin—founded by tech billionaires Elon Musk and Jeff Bezos, respectively—which demonstrate the key benefits that private enterprise can bring to the aeronautical industry. Progress happens fast through competition, and commercial entities are able to carve out their own paths without worrying about government-funding cuts every few years.

“Opening space up to commercial companies has led to significant technological advances and greater affordability for spaceflight,” said Sourabh Kaushal, an award-winning researcher from India who specializes in space innovation. “Space is no longer just for governments. The commercial space industry in booming.”

Until November 2015, it was widely accepted that nobody could own a part of outer space, based on a treaty signed in the 1960s. That certificate from your Uncle Roger claiming he bought you a star and named it something cute? I’m afraid it was bullshit. But new legislation has given private companies the go-ahead to pursue asteroid mining, which space lawyers argue is practically asteroid ownership.

Europe has followed America’s lead, subscribing to the idea that new legislation will encourage innovation from commercial outfits with extraterrestrial ambitions. “Both individual countries and Europe as a whole have recognized the importance of the space sector to consumers, business, and governments,” said Neil Fraser, head of space and communications at ViaSat UK.

Notably, Europe is adopting a more collaborative and cross-border approach than the United States, emphasizing private-public partnerships, along with government and EU investment to spur commercial space enterprise. “It’s unlikely that a single organization will produce a breakthrough on its own. True breakthroughs are likely to be via a combination of brilliant ideas and technology that all fit together in the right way,” Fraser explained.