new commercial high-technology space ventures and new commercial applications of existing space technologies. Business in space offers great promise. But it also holds great risk, financially, institutionally and technically. We plan to reduce those risks with a three-pronged approach. To reduce financial risks, we shall: • continue to offer space transportation incentives for high-technology space endeavors, • assist in the integration of commercial equipment with the STS, and • provide seed-funding to stimulate commercial space ventures. To reduce institutional risks, we shall: • speed integration of commercial payloads into the STS, • shorten the evaluation time for NASA/private sector joint-endeavor proposals, • establish procedures to encourage development of space hardware and services with private capital instead of government funds, and • introduce new institutional approaches for strengthening NASA's support of private investment in space. To reduce technical risks, we shall: • support research aimed at commercial applications, • ease access to NASA experimental facilities, • establish schedule flight opportunities for commercial payloads; • disseminate space technology information of commercial interest, • and support the development of facilities necessary to the commercial uses of space. III. COMMERCIAL AGREEMENTS Companies who desire new "high-tech” products or services use various commercial agreements with NASA. Types of commercial agreements include: 1. Memorandums of Understanding (MOU) 2. Joint Endeavor Agreement (JEA) 3. Technical Exchange Agreements (TEA) 4. Industrial Guest Investigators (IGI) The most substantial of these agreements from the viewpoint of near-term commercial activities is the Joint Endeavor Agreement (JEA). This is a cooperative agreement in which private participants and NASA share common program objectives, program responsibilities, and financial risk. On a different level, NASA uses a Technical Exchange Agreement (TEA). Under a TEA, NASA and a company agree to exchange technical information and cooperate in the conduct and analysis of ground-based programs. An Industrial Guest Investigator (IGI) agreement provides for collaboration between scientists from the private sector and NASA in an experiment of mutual interest. In these agreements, proprietary and intellectual rights are clearly identified. In all cases, NASA does not fund any of the work performed by the private sector. IV. BUSINESS IN SPACE Where does the potential exist for business in space? The question brings to mind something by James Michener in his book entitled Space.
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