Legal News

From ComputerWorld:

“An antiphishing bill that was introduced in the U.S. Senate last week could end up being used by large holders of trademarks to unfairly wrest legitimate domain names away from small businesses and individuals, according to a trade group that represents domain name investors and so-called direct search companies.“

Check out ComputerWorld for the entire article.

I have spent thousands of dollars developing my domain names in addition to the cost of acquiring these names, and this bill has the potential to make it easy for companies to take them from me without much trouble. I have been careful acquiring domain names that do not infringe on the marks of other companies, but in the end, I could get burned because of this legislation.   It simply isn’t fair to small-time entrepreneurs like myself.
From what I can tell, the Internet Commerce Association is our best chance at getting the bill changed. They have a great staff working to protect the rights of people in the domain industry, and we need to support them. Please consider becoming a member of the ICA or making a (tax deductible) contribution. Now is the time we need to step up and organize.

I am in Florida for an extended weekend and a meeting, but I wanted to post a couple of links for you to see while I am away.
From DNJournal:

“There are parties searching for a way to change laws so they can more easily take domain assets they have no right to away from their current owners. The easiest way to do that is to get language favoring their agenda slipped into an otherwise well-intentioned bill like this that would normally sail through the legislative process with little scrutiny. The dangerous language gets inserted in such a bill through lobbying efforts by people who want to remove current barriers that keep them from grabbing domains they are not entitled to. Combating this sort of legislative sleight of hand is exactly why the Internet Commerce Association was formed and why we think it is critical for domain owners to support the organization. Your very livelihood could be at stake in the legal battles over your assets that are just now getting underway.“

Also, Mike Berkens posted the ICA response to the proposed Anti-Phishing Consumer Protection Act of 2008. As stated above, the language in the Act could pose a very serious and very real threat to the health of the domain industry. I am not one for blowing smoke or taking political action, but this is something we should all take seriously.
Whether you have great generic domain names or average domain names it doesn’t matter. If super generic domain names become a target – as many people believe will happen if this bill is passed as is – the value of all domain names will drop significantly due to the risk of owning them. The problem I see is that this language is lumped into a consumer and election-friendly bill that will surely be passed. Who doesn’t want to stop phishing? HOWEVER, we need to make sure this bill is changed before it is passed. We need to protect our assets. If some of the big chips fall, you better believe this will impact your business (assuming you own domain names).
I am a Professional Member of the ICA and I will continue to give what I can. I am still selling my two Australian beach domain names with the $5,000 margin going entirely to the ICA from the buyer (who can get a deduction for it). No matter whether you can contribute $100 or $25,000, you need to join the ICA and help protect your domain ownership rights.