The Image above shows the regions of the plantet (grey color) where people will be free to own any satellite part or space weapon that by chance falls into their territory as stated on the Outer Space Treaty regulations. That was 1967 and Colombia did not signed the treaty. 9 years later, in 1976, Colombia hosted a summit where they came up with a new treaty known today as the Bogota Declaration. Both treaties seem to coincide on the grounds that declare the space and the moon as part of the commons of humanity. But the reality today of that range that sits just above earth’s near atmosphere is that it became filled by satellites that operate at Low Elevation Orbit (LEO), plus of course, thousands of cataloged parts flying at high speeds and also known as space debris. Is in such place that both treaties don’t coincide. In the name of the ‘commons‘ the Outer Space Treaty served to just allow powerful nations to conquer and control LEO, MEO (medium elevation) and GEO (geosynchronous) “territories”.
From wikipedia http://en.wikipedia.org/wiki/Outer_Space_Treaty:
The Outer Space Treaty represents the basic legal framework of international space law. Among its principles, it bars States Parties to the Treaty from placing nuclear weapons or any other weapons of mass destruction in orbit of Earth, installing them on the Moon or any other celestial body, or to otherwise station them in outer space. It exclusively limits the use of the Moon and other celestial bodies to peaceful purposes and expressly prohibits their use for testing weapons of any kind, conducting military maneuvers, or establishing military bases, installations, and fortifications (Art.IV). However, the Treaty does not prohibit the placement of conventional weapons in orbit. The treaty also states that the exploration of outer space shall be done to benefit all countries and shall be free for exploration and use by all States.
The treaty explicitly forbids any government from claiming a celestial resource such as the Moon or a planet, since they are the Common heritage of mankind. Art. II of the Treaty states that “outer space, including the Moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means”. However, the State that launches a space object retains jurisdiction and control over that object. The State is also liable for damages caused by their space object and must avoid contaminating space and celestial bodies.