A couple of weeks ago when we’re discussing Prince's estate trademarking the color purple, I mention the estate filing a lawsuit against for Domain Capital for cybersquatting. Long story short. Domain Capital loaned money to the previous owner of prince.com. (The previous owner was not Prince) The previous owner defaulted on their loan payments and Domain Capital took over the domain. It's very interesting to note that the domain has been registered since 1995 and Prince in his lifetime never attempted to purchase the domain.
Last week I learned that LL Cool J is bringing legal action against the founders of Rock the Bells music festival. He is suing them for trademark infringement, false designation of origin affiliation or association, cyber piracy and unfair competition. He is also requesting an injunction. Ladies Love Cool James has a lot of claims in his complaint but today we are going to focus on one. Cybersquatting.
Cybersquatting is the practice of registering names, especially well-known company or brand names, as Internet domains, in the hope of reselling them at a profit.
Our top 3 takeaways from today's show:
1. Purchasing domains with the intent to sell to the highest buyer is cybersquatting.
2. Register your trademarks with USPTO to strengthen your cybersquatting claim and overall complaint.
3. Ask before you leap. Contact the domain owner before you pursue litigation. The domain owner could have a legitimate purpose for the domain.
That's all I have for you today. Remember if you found this information useful, share it with your friends, subscribe, and leave a review.
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