The bottom line is that anyone...literally anyone with a dollar and the internet can become a domain name investor. There are no barriers to entry. We don't agree to anything, we don't sign anything and we can basically behave as we wish. However, this changes once we team up with a registry, registrar or aftermarket entity to sell our domains. Then, we have to agree to certain things.
However, as roughly only 10% of all TM dispute cases result in a UDRP filing (I may be wrong so please feel free to correct my assumption) we are free to roam the WWW like it is indeed the technological version of The Wild Wild West.
There will only be progress when someone or something makes us accountable for our actions. Makes us actual 'Professionals'. Maybe get certificates and hang them proudly on our walls. This is maybe the time that we take domain name investing kicking and screaming into the 20th Century (I know...pun intended!!!). How many other industries can a person trade and complete financial transactions without a certain level of approved oversight. Very few I'd imagine.
We should at least have a basic set of laid out principles and practices that we have to adhere to without compromise. We should have regulation that actually means something. Reputations and businesses can be ruined overnight with very little evidence and there are few grounds for appeal, if any. Who would we appeal to once the damage has been done.
I propose something along the lines of the following:
We have an worldwide recognized title - such as - Domain Name Investor.
We have to sit and pass a test before we can use this title.
We have a ramped up professional body which represents us and always has our best interests at its very core.
We have a bond which will be lost in the event of any proven acts of wrongdoing and a formal set of appeals procedures.
We have better links with all interested stakeholders, whether that be with fellow DNIs or others.
Just a few thought on paper for now, but please let me know what you all think.
Regards,
Reddstagg