What does a newborn have in common with people who want to make fast money? Plenty, when the baby’s birth is a worldwide event. Cybersquatting plans simmered as the Duke and Duchess of Cambridge awaited the July birth of the third person in line to the British throne. Domain name buyers pounced on every variant of the infant’s name and title even as Prince George Alexander Louis’s name became public knowledge.
Cybersquatters in California and around the world look for opportunities and capitalize on them. Profits from domain name squatting ride on the backs of other people’s identities or hard work.
A domain name like hrhprincegeorgecambridge.co.uk — now up for sale by its non-royal owner for 10,000 pounds — holds value. The sale of the domain name or revenue generated by the website is pocketed by someone who has no “good faith” connection to a legitimate product or service. The domain name – nothing else — is the selling point.
What does Buckingham Palace or, for that matter, any business do when global thieves poach what rightfully should be its intellectual property? Cybersquatters hope they panic buy after the domain name has been registered.
Hindsight protection feeds the greed of thieves. A better solution is to anticipate cybersquatters and lock out the domain name possibilities, even misspelled and negatives ones like mybrandsucks.com. That’s an expense the Queen can afford but not within every company’s reach.
How much spending is necessary to protect a brand? What happens when the company just waits until there’s a domain dispute? Financial and legal strategists can answer both questions based on individual protection requirements and available funds.
Throwing up a solid wall to prevent cybersquatting is necessary for any business that depends on a domain name for reputation or revenue. Intellectual property attorneys advise how high the wall should be built and which materials to use to construct it.
Source: tech2.in.com, “Cybersquatters rush to grab highly lucrative royal baby domain names” No Author Given, Jul. 26, 2013