07/05/2010 05:12 am ET Updated May 25, 2011

Lawsuit Against Second Life Brings Real World Problems

A group of gamers is looking for real money from the creator of the virtual world Second Life, charging fraud and false advertising because of changes in how land is held in the game.

In Second Life -- and in online role playing games like World of Warcraft -- players create their own characters called avatars that they use to move about a virtual 3-D space. As Second Life avatars, residents -- as the players are called -- can do anything including run businesses, go to concerts, play sports, create or buy products, and talk and interact with others from around the globe. They can also buy land using Second Life currency bought with real money.

It's the issue of who is the ultimate property owner that's in dispute. Walletpop's Linda Doell explains how this works, and why it's such an important legal issue. Would you invest real money in a virtual world? If you would, this article will provide you with some warnings. View the entire post at