Do you treat common spaces the same as you treat your own property?

The oceans and seas that cover 70% of the planet contain critical resources, like fish and oil, that contribute to nations' economies and well-being.

The waterways are important to national security as well.

But how do you put boundaries on something constantly in motion? What happens to countries with no coastline? Can they partake of the ocean's bounty?

What happens when nations fight over liquid property rights?