Starting up in virtual reality: examining virtual reality as a space for innovation
Crystal Nwaneri · Edward Elgar Publishing eBooks · 2018
Despite its long history, virtual reality is seeing a new advent as commercial mobile and desktop VR devices reach the market. Investors are taking notice and VR has become a lucrative industry with new products from content developers and hardware manufacturers. This chapter examines the legal implications of starting up in virtual reality. Specifically, the chapter distinguishes modern virtual reality from its previous iterations and examines the unique legal considerations of gathering funding for and innovating a new device in today's high-tech industry. The chapter also evaluates the legal risks posed by commercial VR and analyzes the intellectual property challenges posed by a growing, competitive industry. Funders have already invested billions in what remains a nascent technological industry. This chapters examines some of the possible points of liability that stem explicitly from innovating in virtual reality.