Nov 25, 2010 By CircleID Reporter
According to a recent study on trends of disputed domain names, companies could save millions on legal costs by being more proactive about registering the names first. "The results indicate more than $220 million was spent on reclaiming domain names from third parties through the Uniform Domain Name Dispute Resolution Policy (UDRP)," says Corporation Service Company (CSC). "If brand owners had registered these domain names proactively, it would have only cost them $1.1 million (£600K), yielding a cost savings of $219 million."
Additionally the study also found close to 4,000 domain names were allowed to expire after they were handed back to the brand owners. Close to 3,000 domain names that were allowed to lapse after they were won were later re-registered in some cases by third parties again. Apparently "several companies have disputed the same domain name up to three times because they continued to allow it to lapse," says CSC.