SINGAPORE Internet Dot Com Meeting Could Change Industry
Today's meeting of ICANN (Internet Corporation for Assigned Names and Numbers) could be the dawn of a new era for brands and domain names.
Under a proposed new initiative businesses would not be limited to the current necessity of obtaining gLTDS such as .com, .org and .net.
Global brand stand to gain the most as they can structure intellectual property and gain better control over brandjacking and cybersquatting.
The worldwide governing body will meet the entire week with this as a key agenda item.
Reportedly the new system would be costly, with fee estimated at USD185,000 to apply so the emphasis is really on big business.
For now the wired world will have to wait for the outcome of the new plan, but if approved it will be a landmark change on how business is done online.