The orbit/spectrum resource is one of the world’s most important reservoirs of value. This resource has a dual “orbit/spectrum” nature because its value can only be realized through the simultaneous exploitation of both the geostationary orbit and the electromagnetic spectrum. The geostationary orbit, a ring of space six earth radii above the equator, is where a communications satellite must be placed in order to assume a fixed position in the sky. These fixed or “geostationary” positions are extremely desirable because they allow the satellite to serve as a dependable relay platform for messages sent between large numbers of geographically isolated communicators.