Should cyberspace have its own courts?

This is an issue which will be growing in its necessity to receive attention as the world's markets begin to blend together thanks to internet commerce. The author's experience with PayPal is no doubt an indication that the entities which exert a major influence on internet commerce (electronic payment institutions like PayPal) will have to continually revise their policies as the nature of what's "tangible" evolves. The example Julian Dibbell gives to the PayPal employee is a good example of how technology is changing the meaning. A football ticket is tangible, surely, but the experience of witnessing such a sport is just that, an experience, certainly not tangible. And yet, as the PayPal dialog displays, major institutions have yet to evolve where policies are formed with consistent logic all across the board. Personally, I don't think there needs to be a governing body for the internet. I'm a proponent of deregulation, and I believe that competition amongst electronic payment institutions (although rare for PayPal) will eventually be the stimulus needed to craft acceptable policies. If one particular institution does not cover an individual's needs, then he/she should have the option to use another carry which may. An online court system just doesn't seem necessary at this point.