Domain name investors advocacy group publishes agreement that can be used by domain buyers and sellers.
If I had to guess, I’d assume that very few domain name investors use a contract when they buy or sell a domain. This is because the benefits of using a contract might not be clear, and they’d have to hire an attorney to draw up the agreement.
Internet Commerce Association is breaking down some of these barriers. Today, ICA released an annotated domain name purchase agreement. The organization still advises consulting with an attorney, but this agreement could get domain investors 99% of the way there.
ICA worked with leading domain name attorneys to create the sample agreement. Each section has an explanation, too, which should help you understand if it’s relevant and important to your specific transaction.
Contracts help protect both parties in a transaction. Having universal terms in these contracts (rather than ones drawn up only by the representative of the buyer or seller) could go a long way in improving protections for both buyers and sellers.
The purchase agreement is available to members and non-members of ICA, but non-members can contribute to future work like this by joining for $25 a month.
Scott Smith says
Heyo, looks like a lotta Zak in that piece.
Cheers,
Scott
Lifesavings.online says
Why didn’t these people speak up when frank schilling cheated his contract application obligations while raising price on a dozen of his TLDs when it he wasn’t supposed to for 5 years? Everyone yelled up and down over .org or .com contract. But when I get FK’D BY an ICA member, it’s silence. This industry STINKS. Shame I think you’re all lame. You didn’t protect me. Only look out for your LEGACY. Right? Scammers in your ranks!
John says
It didn’t affect me at the time so I’m not certain about all the details now, though I recall the general phenomenon. However, it sounds like you may be spot on and have a legitimate beef there. There is no question that there has been some unpleasant stuff within “the industry” at times. There is definitely also too much of a standard typical garden variety tendency to “protect our friends in the (‘domain industry’) establishment” even at one’s own expense no less.
That said, I wonder if you saw the favor I tried to do you under another thread a while ago. You can pretty much expect to burn out and fade away with the kind of domains you are into, and your moniker domain is even extremely illustrative of that. I know you might not like hearing this and will just think ill of me or my motives, though. If and when you do burn out and fade away it will be a bit sad, however, since not enough people call out certain things that need calling out sometimes.