by Traverse Legal, reviewed by Enrico Schaefer - October 28, 2008 - k. Cyber Squatting and Domain Dispute News
Domain Name Wire is reporting that the new generic top-level domain names announced by ICANN this summer, allowing registrants to choose their own domain name suffix such as .nyc, will cost registrants approximately $185,000. ICANN has spent almost $13 million for this new project, and Domain Name Wire reports that a large portion of that $185,000 estimate ($26,000 in fees) will go towards recouping those costs. $100,000 of the application fee will cover the application process, and the remaining $60,000 has been added in through risk calculations by an insurance firm.
Despite these high costs, ICANN is expecting 500 applicants in the first round. It remains to be seen whether the return on investment for these new gTLDs will be worth the cost and what effect these new domains will have on the Uniform Domain Name Dispute Resolution Policy and trademark infringement on the web.
As a founding partner of Traverse Legal, PLC, he has more than thirty years of experience as an attorney for both established companies and emerging start-ups. His extensive experience includes navigating technology law matters and complex litigation throughout the United States.
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by attorney Enrico Schaefer, who has more than 20 years of legal experience as a practicing Business, IP, and Technology Law litigation attorney.
