Lemma 27.12.3. Let $S$ be a graded ring generated as an $S_0$-algebra by the elements of $S_1$. In this case the scheme $X = \text{Proj}(S)$ represents the functor which associates to a scheme $Y$ the set of pairs $(\mathcal{L}, \psi )$, where

$\mathcal{L}$ is an invertible $\mathcal{O}_ Y$-module, and

$\psi : S \to \Gamma _*(Y, \mathcal{L})$ is a graded ring homomorphism such that $\mathcal{L}$ is generated by the global sections $\psi (f)$, with $f \in S_1$

up to strict equivalence as above.

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