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MARINA DEL REY, California (AP) -- The international body that oversees the administration of internet domain names, the Internet Corporation for Assigned Names and Numbers (ICANN), announced Tuesday that the private sale of domain names will soon be prohibited. Domain names are necessary to convert the network address of internet computers into more easy to remember character-based names, such as cnn.com. However, some people have attempted to capitalize on this system by hoarding these names in an attempt to resell them to companies or individuals who often have no choice but to pay large sums of money if they desire a memorable spot on the web. This practice has caused a host of problems for ICANN.
Beginning next month, only approximately one hundred ICANN-sanctioned registrar companies will be permitted to sell domain names. An individual who desires a name on the internet will be required to purchase it from one of these registrars, and according to ICANN, the registrars will be prevented from allowing the transfer of domain names to a party other than the original registrant. This move is likely to outrage many domain name owners who will be stuck with a large number of domain names they had hoped to resell for a profit.
According to Alejandro Pisanty, Vice-Chairman of ICANN, people who register domain names have no right to transfer them to another party, since domain names are rented and not owned. ââ¬ÅThese domain name speculators are causing all kind of nightmares for our organization,ââ¬Â said Pisanty, ââ¬Åfrom ownership disputes to nearly crashing the servers which run the internet naming system by overloading them in an attempt to register large numbers of domain names at peak times. We had to do something.ââ¬Â
This resolution is scheduled to go into effect on May 1, 2003. Many domain name experts have suggested that this new rule is unenforceable, but Pisanty claims domain name registrants who are found to have violated this order will have their domain names revoked, and will be prevented from registering any more.
Some say this rule is illegal. If affected parties turn to the courts for help, most legal experts believe it will be abolished before it becomes active. Pisanty isnââ¬â¢t discouraged by the possibility of a legal battle. ââ¬ÅWe are ICANN, we can do whatever we want when it comes to this kind of thing. That's what we're here for,ââ¬Â he said.
Beginning next month, only approximately one hundred ICANN-sanctioned registrar companies will be permitted to sell domain names. An individual who desires a name on the internet will be required to purchase it from one of these registrars, and according to ICANN, the registrars will be prevented from allowing the transfer of domain names to a party other than the original registrant. This move is likely to outrage many domain name owners who will be stuck with a large number of domain names they had hoped to resell for a profit.
According to Alejandro Pisanty, Vice-Chairman of ICANN, people who register domain names have no right to transfer them to another party, since domain names are rented and not owned. ââ¬ÅThese domain name speculators are causing all kind of nightmares for our organization,ââ¬Â said Pisanty, ââ¬Åfrom ownership disputes to nearly crashing the servers which run the internet naming system by overloading them in an attempt to register large numbers of domain names at peak times. We had to do something.ââ¬Â
This resolution is scheduled to go into effect on May 1, 2003. Many domain name experts have suggested that this new rule is unenforceable, but Pisanty claims domain name registrants who are found to have violated this order will have their domain names revoked, and will be prevented from registering any more.
Some say this rule is illegal. If affected parties turn to the courts for help, most legal experts believe it will be abolished before it becomes active. Pisanty isnââ¬â¢t discouraged by the possibility of a legal battle. ââ¬ÅWe are ICANN, we can do whatever we want when it comes to this kind of thing. That's what we're here for,ââ¬Â he said.
