news Minnesota Appellate Court Rules Domain Names Are Property

[equity78]

Cincinnati.com published an article on a Minnesota court case that declared domain names are property and subject to garnishment. (TIP of the Cap to George Kirikos who tweeted out the story)

Back in December of 2013 John Berryhill left a comment that I felt was good enough to be its own post, John spoke of why domain investors really don’t want domain names to be property.

Source TheDomains.com

 

[slimjim270]

Defined as "property" also has other implications...

For example, if domains become defined as "property", the executor of an estate would have the right to acquire the passwords to an user's registrar account and could request to have the domains (assets) legally transferred to the prior owner's heirs.

A new can of worms for the process of inheritance and sorting out an estate.

Can you imagine... one day there will be a post about Johnny Crook who was arrested for "laundering cash through buying/selling domains at his laundromat".

Or better yet... "Little Suzie of Idaho who found a password tucked under her deceased mother's mattress... the account held Millions $$ in domains"...

Yikes... the future of domaining is ripe for the lawyer's coffers if domains become "property"...

-Jim

 

[DNVantage]

Defined as "property" also has other implications...

Currently most countries/states don't classify domains either as goods/property or as a service but that is due to perception.

IMO, a domain name should be treated a virtual leased goods or property, like any other goods or property, it is yours as long as you have leased it

A domain name is like renting land or vehicle. On expiration of the lease, the leased land or vehicle would revert back to the lessor. In the case of a domain, the domain reverts back to the registry.

Just like analog/digital UI controls or a watch and holo UI controls or a watch, just cause one cannot touch a hologram does not mean it cannot function as a control or watch. It is a matter of function not tangibility.

The problem is more about common perception. Masses just need time get used to the notion of leased + intangible goods/property.

 

[baseballworld]

Subject to garnishment sounds about right I mean you have companies starting to give people loans based on them as well.

 

[NPer]

I mean you have companies starting to give people loans based on them as well.

I hope you are not referring to those "Intelend" clowns who send out spam.

 

[slimjim270]

Currently most countries/states don't classify domains either as goods/property or as a service but that is due to perception.

IMO, a domain name should be treated a virtual leased goods or property, like any other goods or property, it is yours as long as you have leased it

A domain name is like renting land or vehicle. On expiration of the lease, the leased land or vehicle would revert back to the lessor. In the case of a domain, the domain reverts back to the registry.

Just like analog/digital UI controls or a watch and holo UI controls or a watch, just cause one cannot touch a hologram does not mean it cannot function as a control or watch. It is a matter of function not tangibility.

The problem is more about common perception. Masses just need time get used to the notion of leased + intangible goods/property.

Great point.

Tangible vs intangible - reminds me of the "good will" line on a balance sheet during an acquisition.

Domains are a quirky cousin to IP, virtual, intangible, but of value when transferred... though domains are not "created" or "original concepts" that hold a 75 year protection like copyrights... so they differ in that aspect in that you must consistently pay a fee to retain the "ownership" rights to a domain.

I pay less in domain renewal fees than I pay in auto "property taxes" each year... (and I've never had to replace a muffler on a domain)

That would likely change if domains became property... not the muffler, the taxes... though which state would the domain "property" be taxed since you register them online... the registrar's state of business or your personal residence? I could see CA getting excited over this topic... desperate for new revenues to offset their spending...

Headline - Taxes on Domains to pay for Brick & Mortar Library

Headline - Domain Taxes to pay for New State Jail Facility to house Identity Theft Criminals

Headline - Internet Taxes to pay for New Post Office

And the list goes on...

-Jim

 

[baseballworld]

I hope you are not referring to those "Intelend" clowns who send out spam.

Would that be the one with a paid advertising spot sitting here on namepros?

 

[NPer]

Would that be the one with a paid advertising spot sitting here on namepros?

Hehe... okay, I see which one you are referring to.