ICANN battles Cyber squatting

The Internet Corporation for Assigned Names and Numbers, known as ICANN is about to drop another 500 suffixes into the system. The Internet oversight agency is considering a centralized database for existing trademark holders; they need to cut down on questionable registrations of new Internet addresses. They are looking at creating a new database called IP Clearinghouse, this would create a new level involved to register a trademark under a new suffix would be automatically blocked; until the applicant could prove that its use is legitimate. The idea is needed so trademark holders won’t have to spend thousands of dollars registering domain names defensively. These new names could start appearing next year. Trademark holders have already had first call when new domain suffixes are created, but many companies fear having to register each domain. The other side of the argument is the existing system favors trademark holders over individuals and groups with legitimate needs. The IP Clearinghouse come from a committee largely made up of corporations and intellectual-property lawyers. ICANN will not decide on the idea until December. There has been quite a profit made by Cyber squatting as the art of finding the next big thing and pouncing has become an Internet game. This was the reason the Palm Pre name was kept quiet as long as possible until they could secure all the naming and trademarks. ICANN needs new names for the as the dot.com is running out of addresses.

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