How Much Does It Cost To Register An Ip Name

Statton Hammock, V.P. Global Policy & Industry Evolution, MarkMonitor, discusses the value of domain names among other types of intellectual property avails.

Last month I read an interesting article ¹ nearly companies that own trademarks in a specific colour (for example, think of the "Tiffany® blue" or "UPS® brown" or "Mail service-It Note® yellow"). The substance of the article was interesting, but what caught my eye was this simplistic graphic attempting to explain each of the different types of intellectual property avails:

Effigy 1. Crockett, Zachary. (2020, Jan 12). Can a corporation "own" a color? Retrieved from https://thehustle.co/tin can-a-corporation-trademark-a-color/.

This reminded me of something that I have noticed far too oft – that is the lack of reference or inclusion of domain names as an intellectual property asset. How can the chief navigational tool of the global internet, registering in numbers that exceed 340 million, and on which billions of dollars of e-commerce are conducted every day (think of how much commerce is transacted through Amazon.com lone) non be considered an intellectual property asset on par with trademarks, patents and copyrights? While there are definitely differences between domain names and the other types of intellectual belongings, these differences don't diminish the value of domain names merely rather add to them, making them just as valuable as other forms of intellectual belongings.

Domains: important differences

Without question, domain names are different from other forms of intellectual property, which makes their condition as an IP 'outcast' understandable.

Ane of the stark differences betwixt domain names and the other forms of intellectual property is that domain names are created by commercial contract rather than by filing a registration with whatsoever national patent and trademark or copyright part. The correct to apply a domain name is a contractual right created by a serial of multiple contracts between the domain user, the registrar (or domain proper noun 'seller'), the registry of the superlative-level domain (the manager for the database for the top level domain) and the Cyberspace Corporation of Assigned Names and Numbers (ICANN), a non-profit organisation entrusted with the security, stability and interoperability of the domain proper noun system (DNS). Consequently, a domain name is more than analogous to getting a phone number from your mobile telephone carrier than it is to a statute created IP asset.

While a series of complex contracts govern the registration and apply of a domain proper noun, the actual deed of registering a domain proper noun is actually simple – much simpler than for other forms of IP. A domain user or 'registrant' doesn't need to submit 'proof of apply' to get a domain proper noun or go through a multi-twelvemonth examination process. Payment of a registration fee and an agreement to abide by the registrar's terms of apply is all that is required. The relative ease and speed in which to acquire a domain name means many domain names can exist caused at low cost, making it an immediately valuable asset for the registrant.

A third difference between domain names and the other forms of IP is that that they can merely be registered to i entity. Patents can be co-endemic by multiple inventors. The same is true with artists of a copyright. Generally, under trademark law, multiple parties tin can register and utilise the exact same, identical trademark and then long as the trademark is not registered in the same course or used in the aforementioned channel of trade. Not then with domain names, for which there tin simply be one, unmarried registrant. A fact that may, arguably, make the value of domain names greater than other forms of intellectual holding.

In add-on to these differences, domain names volition never elapse so long every bit a domain user pays its registrar the annual registration fee. Patents just final twenty years (with a few exceptions), later which the invention is in the public domain. Copyrights terminal seventy years before entering into the public domain. Trademarks may not elapse but in the The states and another jurisdictions, trademarks may be cancelled if they are not used in connection with the sale of adept or services. Domains volition last in perpetuity then long every bit the registration terms of use are not breached and payment is made – which creates a directly forward, maintenance plan for valuable commercial assets.

Similarities to other forms of intellectual property

Despite these notable differences, there are really more similarities between the 4 forms of intellectual property than differences.

Commencement, trademarks, copyrights, patents and domain names all give the registered owner a parcel of rights, including the right to utilise the IP asset, assign information technology to others and protect and defend it against infringement in courts of law around the world. Equally commercial success takes concur, the importance of the global recognition of each IP asset adds to the growing value of these IP assets.

Second, each is too a commodity, significant that each IP nugget tin can be bought, sold or licensed, which adds to their value equally they each create a market for buyers and sellers who can turn a profit from the transfer of each nugget.

3rd, each intellectual property asset gives the possessor a commercial advantage over competitors in the marketplace. Also, each asset allows its owner to preclude other parties from using the aforementioned asset to promote its business involvement.

Finally, all forms of intellectual property accept created their own industry, comprised of experts and practitioners that aid the IP owner secure, manage, optimize, evaluate and protect these valuable assets. In that location are patent, trademark, copyright and domain name industry associations with respective events in cities effectually the globe – each one an opportunity for experts to assemble and discuss policies, bug, changes and innovation that touch each class of intellectual belongings.

Underestimating the value of domain names

Individuals and companies that neglect to invest in their domain name portfolio equally they practise their trademark and patent portfolios could be taking on boosted risk and or not capitalizing on the value of their domain portfolio. After all, a domain proper noun is the core of an online presence and having several domain names is of import for driving user traffic, boosting search engine visibility, and protecting a valuable brand ⁱⁱ. Failure to have the same diligence for renewing and maintaining domain names as ane has for patent or trademarks can mean inadvertent expiration and the loss of a valuable nugget. In contempo years, in that location have been several horror stories^three of companies that have failed to renew their domain name, including the Dallas Cowboys and Foursquare^iv. Companies don't leave patent, trademark and copyright registration and renewals to laymen, and so why would a company trust the management of its domain proper name portfolio to a amateurish?

In this age of eastward-commerce, e-news, east-advertisement, e-gaming, and e-whatever, managing a company'southward Net presence is critical and a domain proper name portfolio is the strongest intellectual property asset a concern can leverage to promote and protect its online identity.

Acquire more. Join author Statton Hammock for a webinar on March 17 with updates, expert insights and key takeaways following the ICANN67 Community Forum: ICANN67 Community Forum Recap.

Can a corporation own a color?, Zachary Crockett, January, 2020
Why Registering Multiple Domain Proper noun Extensions is good for concern?, Hosting Safety, July, 2017
Losing a Domain: What it Means for Your Company and Users, Natalie Goguen, July, 2016
9 famous domain expirations, Goran Duskic, July, 2018