Rumorville...

[companyone]

Hi,

iReit put up for sale.

If true...this month will have more fireworks than just on the 4th of July.


Peace,
Dan

 

[Focus]

Could it possibly be from the lawsuit against them over TM names?

Writer David Kesmodel is reporting that phone company giant Verizon has filed a federal lawsuit against iREIT for trademark infringement. Kesmodel wrote "The suit, filed in iREIT’s

hometown of Houston, accuses the closely held company of operating more than 90 domains that are typographical variations of its trademarks, including verizonwirelessgames.com, virizonpcs.com and virizonwirles.com. Verizon says iREIT has been displaying pay-per-click ads on the sites for various products that compete with Verizon’s. The phone company is seeking an injunction barring iREIT’s use of the names, as well as


damages of $100,000 per name under the Anticybersquatting Consumer Protection Act, which was enacted in 1999."
Posted April 6, 2007

Anyone know the outcome yet, if any?

-->full story here<--

 

[companyone]

Hi,

The value of their domain portfolio is in all the non TM domains. I doubt they would be included these in the sale. The sale of a TM domain(s) does not limit your liability if a court finds that you vilolated a TM while owning a domain(s).

They have a huge pool of domains that are not and could not be considered TM domains.

Peace,
Dan

 

[Olney]

I've noticed the acquisition section is also gone from here.
I thought it was a great idea for those who could use it.

 

[Focus]

I know they have some GREAT domains, trust me. :smile:

I am just wondering if they are bailing out because of the lawsuit(s) - they can always pop back up as someone else..right?

 

[companyone]

I am just wondering if they are bailing out because of the lawsuit(s) - they can always pop back up as someone else..right

What I am saying is they cannot "bail" on any TM's that might own now or in the past.

Example:

If you park a TM domian for a year and earn say $1000. And then you sell it to someone for $5000. And say they own it for a year and make $1000.

They are now sued by the TM owner in Fed court and prove their case againest the guy you sold it to.

They could get 3x profits made plus attorneys fees at the very min from him.

Now, They find out you owned this domain prior to this guy and sue you in fed court and prove you violated their TM...they can get the same damages from you.

$1000 you earned
$5000 you sold it for.

Times 3

$18,000 plus their attorneys fees plus you will have to pay your attorney plus anything else they can tac on.


Peace,
Dan

BTW: Now they have already been sued...and this lawsuit would have to be disclosed to any potential buyer...I am 99.9% sure they will not be able to sell...until this lawsuit is settled...one way or another.

 

[Focus]

For them to "back sue" a previous owner that would be pretty shitty....if anyone were to be "sued" I would think the most liable prospect would be the person that originaly registered it before the next 4 owners had it!

 

[companyone]

Hi Focus,

Agreed...but by law right now they can go back 1000+ previous owners if they want to...if can prove TM violations and income/profits from previous owners.

Peace,
Dan