Can you afford to lose your domain name? What happens to your business if your website and emails suddenly go down because you’ve lost it? For many businesses, that would be a disaster. For some, it could spell financial ruin, especially if the new owner wants money – a lot of it – to sell the name back to you.
An adjudication matter recently heard by SAIIPL (the South African Institute of Intellectual Property Law) illustrates how this could happen to you via “drop catching”.
What is “domain drop catching”?
“Cybersquatting” is different, it’s an “abusive” process whereby “squatters” pre-emptively register trademarks (or the names of famous people or businesses with which they have no connection) as domain names. They then put them up for sale at inflated prices, or use the goodwill in the names to attract business to their own sites.
An administrative oversight takes a website down; and a price-tag of R200k to get it back
Don’t let that happen to your business!