Business Opportunity

Web domain a real business opportunity

All businesses should pay attention to the host of web domains about to go on sale, writes Emma Barnett. At first glance the topic of internet domain names might not appear to be the most important issue for business to worry about. However, as digital becomes an increasingly important part of individual’s and companies’ identities, it is often how people direct others to the work they do.

On June 20 the Internet Corporation of Assigned Names and Numbers (stick with me here), the non-profit group which controls the internet domain name system, is holding an event in Singapore to announce its final guidelines on a new host of web addresses which will allow companies to purchase URLs ending in their brand name. For instance the clothing company Gap could buy the ending ‘.gap’ instead of ‘www.gap.com’.

The issue of buying a relevant web address has become one of frustration for both individuals and companies alike, which, coming later to the web party than the early adopters, have found that they can not buy the web URL of choice. It has often already been taken by someone else – who they then have to pay exorbitant amounts of cash to in order to reclaim themselves online. Such ‘cyber squatters’ will regularly not give up their internet spot and cannot be easily contacted.

This is why ICANN’s proposals, to essentially open up a new online market-place, where new address are available for those brands and individual who have lost their identity online in the first and second wave of the web, could be significant.

For instance, the fact that even the mighty Apple does not own iPad.com but could now potentially own all websites ending in .Apple, should its submission be successful, is something the technology titan will surely at least want to consider.