Yesterday a judgment by consent was filed in a suit over copyright and trademark rights in Second Life filed last month. Six Second Life content creators had filed suit against Thomas Simon (aka Rase Kenzo) for allegedly duplicating and distributing thousands of their goods. The judgement must be entered by the court, but once that happens Simon will pay $525 in damages under the oath that he only profited $525.  The larger significance, as reported by Benjamin Duranske at Virtually Blind, is that because the judgement refers to the copied items as "merchandise" it will "stand as the first formal, if tentative, recognition of virtual property by a U.S. court" although without "as significant a precedential value as a contested decision on the merits would have had." But that's still a precedent. [more info at Virtually Blind]