Abstract: 
I shall show how to generate models for the picalculus as free
algebras for an equational theory; where the theory has separate
components for name creation, communication of names over channels,
and nondeterminism. This provides a modular characterisation of
picalculus models, full abstraction for bisimulation congruence, a
Moggistyle computational monad, and the bonus of an accompanying
modal logic. The only tricky part is that it all has to be done
within the functor category Set^{I}, using some general
results of Power and Plotkin about enriched Lawvere theories.
