i did not sign any papers or legal papers
This works both ways...
if you did not sign any papers or even entered in to a legal "verbal" agreement, what was to protect your commission?
and if you did not sign any papers or enter into any legal agreement, what was to release you from the other party seeking damages for fraud, misrepresentation, or non delivery of goods?
The primary reason I bring this up is all the stolen names out there that are being re-sold. OR people selling names that they don't even have rights to. Lets face it, domaining is a big business, enormous profit margin, and highly unregulated in regards to selling and buying. Any time there is money involved, this is an open invitation to scams, scammers, fraud and fraudsters.
And because of all of this, this has sidelined my thoughts about brokering some names. This is a cut-throat business. I would tend to do it completely legal and legitimate. And this involves some issues domainers do not want to deal with - such as "exclusivity" and agreeing to a listing contract, very similar to a real estate broker. Many people ignore Sedo's listing policy of acknowledging that
this domain is not listed for sale any where else. Essentially, anytime you list a name for sale on Sedo, you are granting them an exclusivity to listing and selling the name. In theory, this is not a bad idea because it is their service, their staff, their web space, their overhead, their known presence that is carrying you along. Enforcing their contract is another matter.
"Brokering" has become a big business and trade. I have a feeling that a lot of these auctions are protecting under an auctioneering license which is easier to get bonded and insured.
What's more important on the horizon is now domains being called "assets" by many legal venues. This, in the long run, would tend to offer legitimacy to the domain industry as domains being a true asset, much like stocks and bonds.
