The Outer Space Treaty, formally known as the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, was signed in 1967. It establishes that outer space, including the Moon and other celestial bodies, is the province of all humankind. The treaty prohibits the placement of nuclear weapons in space and asserts that space exploration should benefit all countries, promoting peaceful uses of outer space. Additionally, the treaty emphasizes that nations are responsible for their activities in space, including those conducted by private companies. It also prohibits any claims of sovereignty over celestial bodies, ensuring that no country can claim ownership of parts of outer space.