Confusion: Tensor norm between LCSs

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Recently I have read that one may define a "tensor norm" on the projective tensor product $X\otimes_{\pi} Y$ between two locally convex spaces. If $X$ and $Y$ are not Banach spaces, how is this possible? Do we take the quotient by the ideal $$ \left\{ ker(p\otimes q): p,q \mbox{ seminorms on $X$ and $Y$ respectively} \right\}? $$