The company plans to develop an infrastructure to enable Second Life residents and landowners to enforce IP-related covenants within certain areas, or as a prerequisite for joining certain groups. In effect, Second Life's inhabitants will self-police their world, according to rules and social norms they develop themselves.
This is exciting, because it turns Second Life into a laboratory for trying out alternatives to prevailing real world copyright rules.
The possibility of trying out different approaches to real world problems in virtual worlds like Second Life is really exciting and useful. Imagine playing out real world business scenarios before doing them for real. Hey - you could find out what the consequences of downsizing or re-engineering were without losing all your bright employees!