Well no, not really that simple. Their are nuances. In some places you can own your character name, you an even own all the items you carry too. The ToS/EULA does not supersede the laws of any given country, state or province. The U.S. was just a few years ago looking at taxing the in game value of peoples accounts because Gold Selling is a Billion ($1,000,000,000) industry and that value is for virtual goods. The big issue was how to keep track of it all (audit) and then tax players accordingly. It was suggested a flat $2/month per subscription/account would be fair to cover the bases. However the gaming companies would sooner shut down their servers than let YOU or I own our oranges and purples and then sell them for real world money.
To say it is a legal thing and not try and understand the nuances is like trying to run a Defiance Wiki and say it is the most comprehensive resource but leaves out the community entirely that actually makes the game go... oh.. wait.
Playful jabs.
Build a fan site section. You are missing out on the biggest part of the game world. The people who play it and keep it alive.

