advice A large ISP in Singapore wants to purchase my domain name. Please advice

[paknet]

TLDR: A large ISP in Singapore wants to purchase my domain name. I have never sold a domain name before. I am in panic!

Hi everyone,

My friend works for a large ISP in Singapore (I am not disclosing the company name). Last month during a casual conversation, he told me about this new satellite product their company is about to launch in coming months. I was curious about the product name and upon hearing it, being a domain enthusiast, I quickly found the domain name for the product name was available (I am not disclosing the domain name either). It's a dictionary word but not common at all. So I quickly registered the domain name and built a relevant one page website that talks a few topics about the name (the technology itself). The .net is still available but I am afraid of registering it and be accused of cybersquatting their brand/product name and may end up losing both the .com and .net

Yesterday, I received an email from somebody within the company. The person asked if the domain were of any value to me and whether I will be willing to sell the domain name to them. To my surprise, from what I have heard, a company of this size would never approach somebody expressing interest of buying a domain name directly. In fact, they may hire a broker or a negotiator instead to make the deal for them.

First, I thought the email was either fake or a scam but upon investigating the headers of the email and other bits and pieces (I am an IT guy myself), the email is indeed genuine and came from within the company email servers. I also found the person who emailed me on LinkedIn and his profile does state that he is been working on the product (that is the domain name I own) from past eight months.

Here is the problem! I have NEVER EVER sold a domain name in my life. I have never ever listed any of my domain names on any of the domain marketplaces. I have literally ZERO experience in negotiating or closing a domain sale.

On top of that, I have NO CLUE of how much should I expect for this domain name. I know you be thinking how can we help if I don't disclose the domain name, but at this point, I seriously can't and don't want to. Given the size and magnitude of the company, I am intrigued to email them back and asking for a ridiculous amount but having no prior experience, I don't want to end this opportunity by my stupidity.

Please help. I am in a state of panic and disbelief!

 

[Grego85]

you already are kind of cybersquatting. Does your friend know you took insider information from him and are now trying to profit off his employer from it? They may not want to be your friend anymore.

 

[paknet]

Update: Offer received in $xx,xxx (less than $20k)

 

[karmaco]

I don’t understand the panic. You bought the name with the target in mind and here they are. Best to ask for more than you want but not so ridiculous it never sells. No way to advise properly without knowing the name.

 

[Ja Kai]

TLDR: A large ISP in Singapore wants to purchase my domain name. I have never sold a domain name before. I am in panic!

Hi everyone,

My friend works for a large ISP in Singapore (I am not disclosing the company name). Last month during a casual conversation, he told me about this new satellite product their company is about to launch in coming months. I was curious about the product name and upon hearing it, being a domain enthusiast, I quickly found the domain name for the product name was available (I am not disclosing the domain name either). It's a dictionary word but not common at all. So I quickly registered the domain name and built a relevant one page website that talks a few topics about the name (the technology itself). The .net is still available but I am afraid of registering it and be accused of cybersquatting their brand/product name and may end up losing both the .com and .net

Yesterday, I received an email from somebody within the company. The person asked if the domain were of any value to me and whether I will be willing to sell the domain name to them. To my surprise, from what I have heard, a company of this size would never approach somebody expressing interest of buying a domain name directly. In fact, they may hire a broker or a negotiator instead to make the deal for them.

First, I thought the email was either fake or a scam but upon investigating the headers of the email and other bits and pieces (I am an IT guy myself), the email is indeed genuine and came from within the company email servers. I also found the person who emailed me on LinkedIn and his profile does state that he is been working on the product (that is the domain name I own) from past eight months.

Here is the problem! I have NEVER EVER sold a domain name in my life. I have never ever listed any of my domain names on any of the domain marketplaces. I have literally ZERO experience in negotiating or closing a domain sale.

On top of that, I have NO CLUE of how much should I expect for this domain name. I know you be thinking how can we help if I don't disclose the domain name, but at this point, I seriously can't and don't want to. Given the size and magnitude of the company, I am intrigued to email them back and asking for a ridiculous amount but having no prior experience, I don't want to end this opportunity by my stupidity.

Please help. I am in a state of panic and disbelief!

Based on your previous postings, it appears your are a dishonorable domainer - the type who makes the rest of us look bad. Stop taking the perceived easy route and work hard trying to find niches like the rest of us.

 

[wwwweb]

^ so you discovered the name from their linkedin page and not your friend who works there?

It doesn't seem like a one off incident:

https://www.namepros.com/threads/a-...lable-is-it-legal-ethical-to-buy-com.1177600/

 

[Silentptnr]

Came across this thread and thought I would chime in.

I have had a few occasions where I have had inside info and could have grabbed the domain. I either notified the owner or gave it to them.

Not saying you should, but karma has a weird way of working.

There have been many articles about projects that started without have the domain secured. This isn't new.

I think you could risk losing the domain. I personally wouldn't price it for much more than the cost of filing a udrp.

It's no crime, but there exists a code of ethics in domain investing that is designed to ensure the long term stability and the future existence of what we practice.

Best of luck

 

[Mister Funsky]

Interesting thread and I look forward to learning the outcome.

Inside/overheard information is part and parcel of the business world and the perception of 'right or wrong' can often depend on which side of the fence the parties are.

Without addressing the 'right or wrong' of your position, the thing for you do is divest yourself of the name as soon as possible...if Rob comes to you with an offer, considering the giggle overlords have documented this thread, I would take it.

 

[Jv1999]

you already are kind of cybersquatting. Does your friend know you took insider information from him and are now trying to profit off his employer from it? They may not want to be your friend anymore.

It's not cybersquatting if it's a legit dictionary word.

 

[paknet]

How did you register a dictionary word in recent times of generic value, is it a .sg extension?

It is a .com and as I said, .net is still available. The name is not very common but still an English dictionary word. I have tonnes of English dictionary words that are still available on the .com scope. PM me and I may share a few.

 

[Ja Kai]

The three prongs of the UDRP:

1) The domain name is identical or confusingly similar to a trademark or service mark in which the complainant has rights;
2) The registrant does not have any rights or legitimate interests in the domain name; and
3) The domain name has been registered and the domain name is being used in "bad faith".

You violated the last two....

When I register a name, I make sure I don't violate any of the three. I do not believe domaining (buying generic names to flip and make a profit) a violation of number 2.

And, perhaps you violated #1 - Is there a trademark for this name?

 

[Darren C]

All 3 points must me proven to take a domain name via UDRP ....not taking sides here ....also many domains that we buy to flip/sell or whatever you like to call it have an existing TM of some sort and as long as you don’t infringe upon the guidelines of the TM you are essentially not infringing upon it ...(note I’m not a lawyer) and some companies have many categories of TM in use for their name ....interesting you will find different companies with a TM on an identical name ....made possible by different categories of TM that can be applied for.

 

[Silentptnr]

You can put the sale through Epik. I'm sure @Rob Monster would consider assisting you and facilitating your transaction.

 

[Rob Monster]

You can put the sale through Epik. I'm sure @Rob Monster would consider assisting you and facilitating your transaction.

Sure, happy to help. We have a fast-growing team in Asia that can help there as well.

 

[lock]

Question: What advice did I receive? Please answer


I took offense only when he/she started targeting me on personal level and called me names like *deceiver* and *you people make us look bad*. That's not my style of taking lessons from strangers. I will take offense, thank you.


Question: What exactly did I try to teach?

Kindly answer the two questions sir/madam.

It's not cybersquatting if it's a legit dictionary word.

1 More what advice you just cant see. Every trademark that is a dictionary word is in the dictionary. Many are single words. So this logic means if it is in dictionary it can't be a squat. We don't know what it is and you haven't been accused of a squat it was more making you aware what it really is.
2 I don't care about your beef. You don't understand ethics. You took a company idea to sell it back. Often on here people will ask questions that might put them in vulnerable situations eg naming the domain they have problem with. Some occasions getting it back from a theft instead of stealing it again. We protect each others lively hoods at every chance.
3 Was a statement as you admitted to wanting to learn not to teach you know it and just want to call me out so gee up all you like. A waste of time.

Nobody knows what name is everything said is speculation and scenarios. You have an opportunity but it sounds a little grey black hat. If you never mentioned that you took the idea none of this would have come to fruit.

​

 

[lock]

Good luck with Rob he knows what he is doing and will advise you accordingly.

 

[Domain_savvy]

IMO, The karma won't behave badly if you share the profits with your said 'friend'.
Company will learn its lesson of not disclosing product names before they grab important digital assets.
And my 2 cents for OP will be to not follow such strategy (insider info) because it can get you and your friends in serious trouble if the company is smart enough.

 

[bonin]

Accept the offer and move on

 

[paknet]

im sorry i think 5 figures is a nice price for any domain. Take it and turn it into (2) 5 figures. whoohoo!

Domain already sold for five figures

 

[Jv1999]

obviously, offer a high ball amount given that you know the company is huge.

 

[wwwweb]

It's not cybersquatting if it's a legit dictionary word.

How did you register a dictionary word in recent times of generic value, is it a .sg extension?

 

[paknet]

you already are kind of cybersquatting. Does your friend know you took insider information from him and are now trying to profit off his employer from it? They may not want to be your friend anymore.

Not very insider information when the name is already mentioned on LinkedIn. Please read my post kind human.

 

[Grego85]

It's not cybersquatting if it's a legit dictionary word.

thanks for the laugh

 

[frank-germany]

Based on your previous postings, it appears your are a dishonorable domainer - the type who makes the rest of us look bad. Stop taking the perceived easy route and work hard trying to find niches like the rest of us.

so when you see a huge company using a name that they ignore to register
so now for how long would you think you need to wait until it's ok to register it?

for how long is it unethical to register it?

as you like the name..
and that company obviously doesn't want it as a .com

let me know: what's your timeframe?

or is it unethical forever?

they don't register it
you like it
now what?

 

[Ja Kai]

a lot of "perhaps" in this post

maybe its a good idea
you don't spit on people
without thinking a little deeper upfront

Really, Frank?

In a UDRP proceeding, a panel will consider several non-exclusive factors to assess bad faith, such as:

1) Whether the registrant registered the domain name primarily for the purpose of selling, renting, or otherwise transferring the domain name registration to the complainant who is the owner of the trademark or service mark;

2) Whether the registrant registered the domain name to prevent the owner of the trademark or service mark from reflecting the mark in a corresponding domain name, if the domain name owner has engaged in a pattern of such conduct; and

3) Whether the registrant registered the domain name primarily for the purpose of disrupting the business of a competitor; or

4) Whether by using the domain name, the registrant has intentionally attempted to attract, for commercial gain, internet users to the registrant's website, by creating a likelihood of confusion with the complainant's mark.

The reason the UDRP was created is exactly for these unethical domain registrations.