In a logical extension of the MMO genre, a young Company, Electric Sheep, is helping big customers create a presence inside "Second Life," the popular virtual world in which people can do or build just about anything they can imagine and socialize with others anywhere in the real world.

Electric Sheep can help you out to customize an island, or what in Second Life is called a "sim"--a 16-acre piece of land that users can buy and do with what they like. Now there is a new party in the fight over who owns this virtual IP: Linden Labs (creator or Second Life), Electric Sheep (or some other third party developer), or you. Better read those contracts closely...

Read more here.