• Moon colony

Moon colony (Photo : Bigelow Aerospace)

The "Great Moon Land Rush" is on and an American firm has become the first to stake out a claim to real estate on the Moon. 

Bigelow Aerospace, an American space technology startup based in North Las Vegas doing pioneering work on expandable space station modules, intends to build the commercial space colony on the Moon by 2025 using its inflatable habitats, according to Popular Mechanics

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The firm plans to lease out these habitats to business firms, governments and private citizens. It wrote the Federal Aviation Administration requesting information on what channels it should follow to legally do this.

Activities on the Moon are covered by the United Nations "Agreement Governing the Activities of States on the Moon and Other Celestial Bodies" otherwise known as the Moon Treaty.

This is an international treaty that turns jurisdiction of all celestial bodies, including the orbits around such bodies, over to the international community. Finalized in 1979, the treaty states that all activities must conform to international law, including the United Nations Charter.

The United States, however, has not ratified this treaty.

Despite this, the FAA did not grant Bigelow a license to do business on the Moon. Instead, the FAA approved Bigelow's business on the Moon via the launch license, according to Tech Times.

The FAA's reply said Bigelow could "leverage the FAA's existing launch licensing authority to encourage private sector investments in space systems by ensuring that commercial activities can be conducted on a non-interference basis." This reply does not grant Bigelow ownership of the Moon or any part of it.

"It just means that somebody else isn't licensed to land on top of you or land on top of where exploration and prospecting activities are going on, which may be quite a distance from the lunar station," explained Bigelow in a statement.

There are currently no laws or regulations in place governing the Moon or doing business there. Space faring countries, such as the U.S., will have to work together to develop new regulations governing business on the Moon in conjunction with the United Nations.