Virtual worlds are fascinating. A significant element of their legal status is that of the Intellectual Property Rights they embody. This is a complex area of law and in many respects virtual worlds have not been fully examined by lawmakers in connection with the treatment of such rights. So, in this chapter we will look at the issue from a variety of perspectives and much of that analysis will be predicated on a review of current legislation and case law which, whilst not framed specifically for virtual world environments, nonetheless has clear application.