Does anyone else think this signed NY state law could become a potential major hassle (to New Yorkers)?
Below is excerpt from State Senator Little's website about the law. This gives a little more info.
http://www.senatorlittle.com/press_archive_story.asp?id=17598
"Itâs wrong, in my opinion, to buy up domain names reflecting the names of existing people or businesses with the intention of selling the names for a profit back to those persons or businesses. Individuals can easily and quickly search for the names of newly licensed businesses and then register domain names for a very low cost. The small business owner is then obliged to pay a high cost for a domain name important to the success of their business. Thatâs unfair."
Little said the new law, approved by Governor Eliot Spitzer on Wednesday, August 1, will prohibit a person or entity from registering a domain name that consists of the name of another living person, or a name substantially and confusingly similar thereto, without that person's or entity's consent, with specific intent to profit from such name by selling the domain name for financial gain to that person or any third party.
A person or entity will only be liable for a violation if they are the domain name registrant or such registrant's authorized licensee. A person or entity who in good faith registers a domain name consisting of the name of another living person, or a name substantially and confusingly similar thereto, will not be liable if such name is used in, affiliated with, or related to a work of authorship protected under title 17 USC, including a work made for hire as defined in 17 USC 101, and if the person or entity registering the domain name is the copyright owner or licensee of the work, the person or entity intends to sell the domain name in conjunction with the lawful exploitation of the work, and such registration is not prohibited by a contract between the registrant and the named person.
The law provides for a civil penalty of up to $1,000 for each day the violation occurs. In addition, the New York State Attorney General is enabled to apply to the Supreme Court for an injunction, including forfeiture or cancellation of the domain name. The registrar, domain name registry or other domain name registration authority will not be liable for injunctive or monetary relief under this section except in bad faith or reckless disregard, which includes willful failure to comply with any court order.
The law will take effect in 120 days.