What is a domain name exactly? A set of words or a phrase, numbers or symbols or a mixture of all components, combined with an extension, known as Generic Top-Level Domain. There is even a day designated for Domain Names – known as World Domain Day: worlddomainday.com
Domain names are forms of online real estate, which are are bought and sold, like commodities on a stock exchange: The Domain Exchange. Pre-Registration and Priority Registrations of new domain extensions are available at high prices to ensure the likelihood of one being able to obtain one’s preferred domain name. If there are many bidders for a new Generic Top-Level domain, then the domain name will be auctioned. This entire procedure is in place even before the domain is even sold.
Once a domain name is sold, the successful purchaser can either utilize the domain name for a website or as forwarding domain. Or one can list the domain name for sale at auction. An auction can last for a day or a week or for another set period. One can also list the domain for sale, as a Buy Now or Make Offer posting, with a minimum reserve price.
If one uses the domain name and then does not renew it, then one can lose the right to use it; but not immediately. Instead, one will receive e-mails from the registrar, indicating that one should renew the domain name by a certain date or lose it. Even at this point one can still sell the domain name or perhaps redeem it. If one waits too long to renew the domain name then the cost to use it can increase exponentially, and include an administration fee; as well as a renewal fee.
All of these bizarre processes would otherwise require an accredited course from a reputable school. Where can one take such a course, to become a domain name professional? Is there a College or University, which offers a course on Domaining? Should one need a license to buy and sell domains? They are a form of intellectual property. Some words or phrases could be trademarked and owned by a business. Perhaps a course would be a good idea.
Thorough research about various searchable trademark databases should be conducted before one begins purchasing domain names, especially if there is a advertising, copywriting or marketing focus to the domain names to be registered. This will ensure that one has done due diligence to prevent infringing on the intellectual property of another company, entity or person.