Domain scenario

[helpme]

Ok fellas, here is one to test you all and I hope this is in the correct forum.

Consider this scenario:
Names of companies and domains have been changed for anonymity.

Approx 1 year ago I registered a "coolproduct.com". A few weeks later a big company "bigcompany" (trademarked), which created a product called "coolproduct" (not trademarked) got in touch with me and asked that I please sign on the dotted line so they can transfer my domain to their ISP. I contacted my ISP and asked them if they had a right to contact me out of the blue and ask I sign over the domain to them. My ISP said "no way, ignore the letter" and so I did. End of story for now.

A couple days ago I was browsing the web and decided to check out all the TLDs of "coolproduct". Firstly, I went to "coolproduct.net", "coolproduct.info" and "coolproduct.ca" they had all been snapped up by "bigcompany", I thought cool at least they've moved on with their lives. I then checked the rest "coolproduct.org", "coolproduct.co.uk" and both of these redirected me to "differentcoolproduct.com" which was a competing product. "differentcoolproduct.com" belonged to another company "anotherbigcompany" which was in the same line of work.

So, my devious little mind started working overtime and thought to myself that perhaps I could sell my "coolproduct.com" to "anotherbigcompany", after all “bigcompany” did try and force me to hand over my domain, perhaps I could make a little money in this world but then it struck me. Surely I wouldn't be allowed to get away with this? Surely there are laws/rules/regulations which won’t allow me to do so. Anyway I send a very brief email to "anotherbigcompany" to spite my concerns which said I had this domain and do they want to buy it? They replied with a 'yes, we're interested'.

So after all that hotair, question time:

1. Please can someone tell me if I am allowed to sell my domain to a competing company?

2. Should I tell "anotherbigcompany" how much I want?

3. Should I tell the "anotherbigcompany" that I was made an offer from "bigcompany" but do not disclose the figure when in fact I haven't had an offer?

4. How much do you think I could get for this website, I know without knowing the name it will be difficult to know this but perhaps a ball park figure? Bearing in mind that I approached "anotherbigcompany" and asked them if they wanted to buy it not the other way around…

5. Do I forget about the whole thing and walk away and forget it ever happened?

6. Slit my wrists and hope that it’s a long painful death?

Thank you for your time.
Anony mouses

 

[irishmat]

my initial reaction is to put it up for auction at sedo and let both bigcompany and anotherbigcompany know about it! and any other companies in that field

does the name get traffic/revenue? might be worth keeping

 

[Jasdon]

Ok fellas, here is one to test you all and I hope this is in the correct forum.

Consider this scenario:
Names of companies and domains have been changed for anonymity.

Approx 1 year ago I registered a "coolproduct.com". A few weeks later a big company "bigcompany" (trademarked), which created a product called "coolproduct" (not trademarked) got in touch with me and asked that I please sign on the dotted line so they can transfer my domain to their ISP. I contacted my ISP and asked them if they had a right to contact me out of the blue and ask I sign over the domain to them. My ISP said "no way, ignore the letter" and so I did. End of story for now.

A couple days ago I was browsing the web and decided to check out all the TLDs of "coolproduct". Firstly, I went to "coolproduct.net", "coolproduct.info" and "coolproduct.ca" they had all been snapped up by "bigcompany", I thought cool at least they've moved on with their lives. I then checked the rest "coolproduct.org", "coolproduct.co.uk" and both of these redirected me to "differentcoolproduct.com" which was a competing product. "differentcoolproduct.com" belonged to another company "anotherbigcompany" which was in the same line of work.

So, my devious little mind started working overtime and thought to myself that perhaps I could sell my "coolproduct.com" to "anotherbigcompany", after all “bigcompany” did try and force me to hand over my domain, perhaps I could make a little money in this world but then it struck me. Surely I wouldn't be allowed to get away with this? Surely there are laws/rules/regulations which won’t allow me to do so. Anyway I send a very brief email to "anotherbigcompany" to spite my concerns which said I had this domain and do they want to buy it? They replied with a 'yes, we're interested'.

So after all that hotair, question time:

1. Please can someone tell me if I am allowed to sell my domain to a competing company?

2. Should I tell "anotherbigcompany" how much I want?

3. Should I tell the "anotherbigcompany" that I was made an offer from "bigcompany" but do not disclose the figure when in fact I haven't had an offer?

4. How much do you think I could get for this website, I know without knowing the name it will be difficult to know this but perhaps a ball park figure? Bearing in mind that I approached "anotherbigcompany" and asked them if they wanted to buy it not the other way around…

5. Do I forget about the whole thing and walk away and forget it ever happened?

6. Slit my wrists and hope that it’s a long painful death?

Thank you for your time.
Anony mouse

Providing there are no trademarks or other IP associated with "coolproduct" you can do whatever the hell you like with it - offer it to the whole world and start a bidding war.

I wouldn't pretend that the first company has made an offer though - play it straight.

 

[sf2010]

1. Please can someone tell me if I am allowed to sell my domain to a competing company?

Absolutely. If CoolProduct Company doesn't want a competitor getting the domain, it should pay up.

2. Should I tell "anotherbigcompany" how much I want?

I would first contact the CoolProduct Company (via formal letter) letting them know that this domain "became available". As someone said, there is no permanent friend or permanent enemy. Try to put what CoolProduct Company did to you earlier. Your best revenge is to profit as much $ as you can. I would not show your "cards" just yet about anotherbigcompany. Wait first.


3. Should I tell the "anotherbigcompany" that I was made an offer from "bigcompany" but do not disclose the figure when in fact I haven't had an offer?

First of all, DON'T LIE. It will eventually catch up to you. There is no ethical issues should you decide to proceed with anotherbigcompany. Let the domain value stand on its own merits and ask what they think will pay.



4. How much do you think I could get for this website, I know without knowing the name it will be difficult to know this but perhaps a ball park figure? Bearing in mind that I approached "anotherbigcompany" and asked them if they wanted to buy it not the other way around…

No way to value without knowing the domain name. We can all sit here and guess $xxx to $x,xxx,xxx but other than dreaming about scoring $1M+, this value would not help you. Matter of fact, it may work against you. Find some senior forum members and PM them for appraisals.


5. Do I forget about the whole thing and walk away and forget it ever happened?

That is your perogative. But I think you would be walking away from potential profit. If that's the case, I am sure everyone (incl. myself) will offer $50 and gladly take it off your hands (j/k)!


6. Slit my wrists and hope that it’s a long painful death?

Life is short. Why cut it even shorter?

Good luck!

Kev

 

[helpme]

my initial reaction is to put it up for auction at sedo and let both bigcompany and anotherbigcompany know about it! and any other companies in that field

does the name get traffic/revenue? might be worth keeping

Traffic is very minimal, it's at about 10/20 hits a day but this is because I never did any marketing with it, it merely sits and gathers dust. However, searching for the name on google reveals a different story. the name is plastered everywhere we are talking thousands of pages with the name refering to the "coolproduct" but not with "coolproduct.com", and I'm not really sure if having thousands of pages with the name on google counts towards a bigger sum of money being on the table.. just to keep you on my level the name is not in the dictionary, it has 7 letters, and has a double letter, a word which looks something like "telroot".... but cooler.

I wouldn't pretend that the first company has made an offer though - play it straight.

Great advice, I've been told that a few times today. I think I'll make a note of that.

Kev

I shall take on board all your advice, thank you.

$50! Done deal, seriously though, I'm only joking :D

Regarding the slitting of my wrists, If I end up with a massive lawsuit I may want a short life!

 

[stscac]

I think the sedo idea is good. I'd just want to get out of the mess.

How'd you come up with the domain name anyways, was it speculation or was it pure coincidence?

-Steve

 

[helpme]

I think the sedo idea is good. I'd just want to get out of the mess.

How'd you come up with the domain name anyways, was it speculation or was it pure coincidence?

-Steve

A true moment of coincidence. I thought it was a cool name as I have a few names which follow a similar pattern.

About this Sedo, as a newbie to this I always worry about entering into things I am not clued up on. Is it safe? do you think I would get the most out of this domain? Is it a lengthy process? Can pull out at any time? etc

Another question, if the "bigcompany" were to suddenly TM their "coolproduct" will that leave me in the poo?

 

[Keynes]

Another question, if the "bigcompany" were to suddenly TM their "coolproduct" will that leave me in the poo?

Not necessarily b/c your registration of the name predates the TM -- that is necessary, but not sufficient, however: make sure your use of the domain is unrelated to their product -- minimally develop it, don't park it, and make sure the content is not related to their product.

 

[Damion]

A true moment of coincidence. I thought it was a cool name as I have a few names which follow a similar pattern.

About this Sedo, as a newbie to this I always worry about entering into things I am not clued up on. Is it safe? do you think I would get the most out of this domain? Is it a lengthy process? Can pull out at any time? etc

Another question, if the "bigcompany" were to suddenly TM their "coolproduct" will that leave me in the poo?

Sedo is a safe place to conduct your business. You have two choices, you can negotiate by using the traditional offer-counter system or you can contact Sedo if they would perhaps list your domain in the auction with a reserve.

This way you can protect yourself for selling the domain for a price you don't want to let it go for.
With the traditional negotiation process you can receive offers for your domain and send your counter offer if/when you feel necessary to counter offer.

Of course with the auction the negotiations are out of the scene and if there are two big companies involved as you describe they will probably be bidding against each other. And not knowing the domain perhaps there is even a chance other bidders will join in.

Creating a more competive area which can only lead to a better end sale for your domain.

1:I would get the most out of this domain?

- With two highly interested big companies involved in a auction i'm sure you're getting the best value out of your domain.

2:Is it a lengthy process?

- Auction can last for 7 days or 14 days or you can negotiate in the traditional offer-counter system and could even be faster to close the deal, but would you get the best price then? Auction would be better if you can get into auction either with a reserve or a bid that is to your liking.

In the traditional offer-counter system you can decide to push the domain into auction at any time. The last bid you received when you push the domain into auction will be your reserve price. So keep an eye on this and don't push the domain into auction untill you have reached a minimum price during the normal negotiations that meets your reserve.

Or take a chance and push it into auction at the first chance you get. That is a risk that is up to you.

3:Can pull out at any time? etc

-When you are in traditional negotiations you can stop at any time but if you have agreed on a received bid, you have accepted the offer of the bidder you are contractually binded to sell the domain to the bidder for the offer you have accepted.

 

[helpme]

Not necessarily b/c your registration of the name predates the TM -- that is necessary, but not sufficient, however: make sure your use of the domain is unrelated to their product -- minimally develop it, don't park it, and make sure the content is not related to their product.

I've just had a thought, if "anotherbigcompany" was to win the auction, surely "bigcompany" wouldn't allow "anotherbigcompany" to display their product under their product name. What if "bigcompany" was to TM the name after "anotherbigcompany" won the auction, then surely "bigcompany" would pull out the lawsuits, but then why would I care, I've sold the domain...

This is a tricky one... Perhaps one of you want to buy it from me and save me the hassle :D

 

[peaches017]

Before making any action, putting up for sale, parking it, or otherwise. I would be 100% sure that you are
a) not infringing on any trademarks
b) acting in good faith
c) working to maintain an amicable relationship with the companies

-RJ- posted a good list of domain name lawyers in the disputes section, it may be worth it to give them a call.

Peter

 

[Mike]

after you successfully sold the domain, it doesn't matter what big company does to not-so-big company. they can have their legal battles until the sun doesn't shine anymore, your business is conducted at this time, you can walk away from the show.

as many others already indicated, i would list the domain for auction and write an open letter to both companies. explain to them that you are trying to keep the playing field fair and therefore listed the domain for auction. this way all participants have an equal chance of obtaining the domain.
result: thus far, you have not violated any TM laws, you are giving everyone a fair shot and last but not least, you'll walk away with cash in your pocket.
i'm not sure if i agree with sedo on the auctioneers part. sedo controls too much of the communication between bidder/seller and has a notorious habit of reacting too slow and delaying messages.
I'd find a different auctioneer, but would clearly state that the winning bidder also pays the escrow fees.
best of luck, and when you cash in for your 35 ft yacht, post some pictures!

 

[GeoOwners]

hard to believe it"s bigcomanies product and it"s not tmed

 

[helpme]

hard to believe it"s bigcomanies product and it"s not tmed

Tell me about it.