Every network depends on a fragile assumption: that the registry layer allocating and maintaining IP numbers will always stay neutral, coordinated and online. Once IPv4 moved from admin allocation to a priced secondary market, addresses became balance-sheet assets yet the five RIRs still operate under voluntary participation, local jurisdiction, renewable service contracts and fee-capped liability. This article shows how RIR agreements preserve policy primacy and revocation authority while limiting damages, meaning an ownership often equals revocable permission. It then explains LARUS model as a first-party lessor: the RIR contractual interface and governance-interpretation risk sit with LARUS, transferring continuity risk away from the enterprise that needs uptime.