29 Jun '12, 7pm

Hottest New Idea Out Of ICANN Meeting, Private Auctions Where Losing Applicants, Not ICANN Gets The Money

So as we discussed over at CircleID.com today, over the last week arguably best idea coming out of the ICANN meeting is the concept that applicants for new gTLD strings with more than one application, hold a private auction amongst themselves with the winning amount going to the other losing applicants instead of to ICANN. As a backdrop, under the Guidebook multiple applicants for a new gTLD extension are encouraged to work together and come to an agreement to resolve the conflict. Under the Guidebook, if the parties can’t work anything out, the winner of the string will be determined by an ICANN auction where the highest bidder will get the extension, the losing bidders get nothing. If the losing applicant of an ICANN auction doesn’t withdraw their application along the way, they even lose their entire $185,000 filing fee. Under the Guidebook the proceeds of an ICANN auct...

Full article: http://www.thedomains.com/2012/06/29/hottest-new-idea-out...

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