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The micronation of Sealand
PirateBay's plans threatened as Sealand's sovereignty is called into question

Earlier this month, the people who run announced plans to purchase the man-made island called Sealand. Michael Bates, Prince and heir to Sealand, said in a CBC interview that he has no intention of selling his micronation to any cause that violates international treaties. Oddly enough, Sealand was once home to nation founder Paddy Roy Bates’ pirate radio broadcasting operation.

When the interviewer asked Prince Michael about his awareness of’s intentions, he spoke quite clearly on how he was against file sharing. “It’s theft of proprietary rights, it doesn’t suit us at all,” he said. “In fact, I’ve written a book and Hollywood is making a movie out of it, so it would go right against the grain to go into the file sharing thing.”

The estate agent hired to handle the sale of Sealand has also gone on record to say that would not be a suitable buyer. “We might not be able to sell to them, since one of the conditions imposed by the actual occupants of Sealand is that none of the activities to be carried out on Sealand should be an action against the UK, and potentially this group does not comply with this condition,” Sealand said a statement issued to InmoNaranja. “The final decision lies with the current representatives of Sealand at the time of seeing the purchaser's proposal.”

Legal online publication Out-Law consulted a Dundee University lecturer in constitutional and international law, who thinks that Sealand isn’t its own sovereign nation after all. “It is within 12 miles of the coast of Britain and in 1987 the UK extended its territorial waters to 12 miles. That means that UK law applies, including the law of copyright, which could be extended to Sealand without any legal problems whatsoever,” said Professor Robin Churchill.

The final nail in the coffin for independent operations such as PirateBay is the asking price for rights to Sealand. According to Prince Michael, his micronation is valued at €750 million ($971 million), putting it out of reach to all small time buyers. At the time of writing, a total of $19,941 has been raised at’s

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RE: Piracy is lazy
By deeznuts on 1/23/2007 2:01:39 PM , Rating: 2
Its value is set by the marketplace. If $20K is the biggest offer they've gotten, then perhaps that is its value. I can say the asking price for my house is twelve trillion US dollars, but that doesn't make that its valuation. Only upon sale is that value determined. So we'll see. :-)

While I think the price is outrageous, you are confusing Fair Market Value vs. Inherent Value. As anyone who has done any valuation studies or practice knows, there are several definitions of valuation.

If I overbid on someting, does that raise it's value? No it just raises the price I paid on it.

RE: Piracy is lazy
By Oregonian2 on 1/23/2007 2:46:01 PM , Rating: 2
Yes, one of the other valuations is "salvage value", which may be a negative amount in this case, and IMO is the most appropriate one to apply. :-)

RE: Piracy is lazy
By masher2 on 1/23/2007 9:54:28 PM , Rating: 2
> "While I think the price is outrageous, you are confusing Fair Market Value vs. Inherent Value...."

"Intrinsic Value" is the commonly used term in economic theory. Most items, according to any reasonable economist, have no intrinsic value whatsoever. " The value of an item is what it will bring", as the saying goes.

"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer

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