Lawyers: Virtual Item ownership

[soundgarden]

As a gamer, I see a lot of companies moving to selling in game items for real money (rather than selling the game alone and thus ending the transaction after sale).  When I purchase an item in game with real money (which I refuse to do and have yet to do, but I feel like I am fighting a loosing battle) does it become my own? 

For example, in Diablo 3, you can purchase an item from an auction house for real money.  The item was "found" in the gaming world by a player who then lists it on the auction house for sale.  I can re-sell it for real money as well.

Blizzard, the developer, states in its user agreement that the item still remains property of the company and thus they are able to change it at any time.  Can they do this?  Can they just make any user agreement like that?  And what does it mean to be an "item" if all it is is lines of code.

How are virtual items seen in the legal world?  Linking real money to the virtual world also links the notions of real world value and time.

My point in all this: I want to sue the ass off Blizzard.  Kidding; I am just curious since this is a relatively new area.

[El Barto]

The new paradigm is that all software remains the property of the people who created it.  When you buy a game, you're only buying a license to play it at their discretion.  Even console games are moving in that direction.  The manufactures see themselves as being ripped off by Gamestop and others who sell used games.  That's why the next gen consoles probably won't even have DVD drives in them anymore. 

[rumborak]

Soundgarden, I think it's legal because it's a completely virtual item and thus completely relies on the game environment for it to exist. So, the house could be seen as a service that you're buying into.

[MrBoom_shack-a-lack]

Isn't that like the same debate that come up regarding Steam and other similar services, your basically hiring a game rather than buying your own physical copy like you do in store.

As with most downloadable software products, we do not offer refunds for purchases made through Steam - please review Section 4 of the Steam Subscriber Agreement for more information.
Steam Subscriber Agreement
An exception is made for games purchased during a pre-order period if the request is received prior to the games' release date.