09-04-2006, 04:27 AM
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Senior Member
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Join Date: Sep 2006
Location: New York & Michigan
Posts: 300
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Europe Tries to Stop Warehousing
For those trying to make money through domain names, you should be glad the U.S. isn’t enforcing like this….
Quote:
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The Parliament.com, August 1, 2006: Eurid, the European commission sanctioned “.eu” domain name distributor, has filed suit against 400 registrars for the alleged practice of “warehousing.” Warehousing, which has been outlawed in the European Union, is a practice involving the purchase of a large number of domain names for the purpose of reselling those names for a premium at a later date. As a result of the pending suits, Eurid was forced to suspend 74,000 of the two million total “.eu” domain name registrations. Only residents or companies operating in the European Union are allowed to register the “.eu” domain names; however, there is suspicion that many registrars have been acting as a front for non-European Union based individuals or companies in violation of the policies set forth by the European commission. Eurid began offering domain name registrations in December 2005 to public bodies, trademark holders, and companies prior to the offering of registrations to the general public for the purpose of preventing a scenario such as the one that has occurred. The European commission has not commented on the alleged fraud as of yet despite the efforts of British MEP Diane Wallis who states, “[i]f the scale of the abuse is anything like what appears to have taken place, this will represent a major EU scandal and commissioners will need to be brought to account.” Eurid hopes to make the 74,000 suspended domain names available to legitimate users in the future.
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