REDMOND, Wash. -- It might sound like science fiction, but the idea of an elevator to space is getting serious traction as experts in different fields gather at Microsoft to talk about the details.

Experts are gathering at a summit Friday at the Microsoft headquarters in Redmond to talk about sending an elevator into space along a 60,000 mile carbon fiber ribbon.

Rockets are currently the only way to put technology into space, from GPS navigation systems to weather satellites, but they're far too expensive.

"Instead of having to use all the fuel and all the costs of sending a rocket into space, you could port it up, or lift it up with an elevator," said aviation attorney Alisa Brodkowitz.

Brodkowitz deals with the aftermath of aircraft accidents and is involved in the conversations of legal implications of a space elevator at the summit.

"When you ask how can we make this happen, we need to really ask, are we permitted to make this happen?" Brodkowitz said.

Some of the legal topics on tap for the summit include who regulates the elevator and how to insure it.

"How do we create a regime so we know the risks, and therefore allow insurance to be applied to this. In order to create this, we really need to be able to obtain insurance for it," Brodkowitz said.

The idea of these experts talking about insurance is an indication of how close this might be to reality. Liftport, a Bremerton company, suggests on its Web site that the system could start up within 25 years.