Satellite orbital 'slots' (frequency assignments and orbital slots) have held the status of a shared global resource since the adoption of the UN Treaty on Outer Space in 1966. The majority of national regulatory authorities (NRAs) currently use some form of first-come, first-served (FCFS) licensing approach. FCFS is favoured over alternative processes of comparative review, devolution of responsibility to applicants, or auctions for its administrative simplicity and certainty of outcomes. In many licensing instances, NRAs do not receive - or in some cases do not entertain - competing applications, providing no opportunity for an auction or comparative review.