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Domain Contracts Can Be Critical

7

I had a situation last week where I wanted to close on a domain name, but the seller had concerns about the domain sales agreement I sent. Since I use a standard domain agreement I had created by a domain lawyer based in New York, I was a bit taken aback by his concerns. I thought about it for a few minutes and realized that I may have been the same way had someone random offered to buy a domain name I owned and then sent over a two page legal agreement for me to sign.

I explained to him the different sections of the agreement, which included a section discussing the cost and payment terms, a section where it states that the domain name isn't encumbered and/or had no trademark issues, a confidentiality clause, and other standard contract sections. I even explained that when he buys a big ticket item like a car or television, and even when he checks off a box of terms and conditions when registering a domain name, he is signing a contract.

In the end, I opted to move forward without the agreement rather than kill the deal. I was → Read More