EP 84 – Richard Lau – Strategizing Your Domain Name to be Helpful to Everyone, Including Your Clients
Richard Lau is the Founder of Logo.com. He currently has logo.com, face.com, coffee.com, short.com, rides.com, as well as others. In the past, he has owned resume.com, weed.com, gr.com, ra.com, which many of those he now wishes he would have held onto. The prices for his domains are currently a lot higher than they were 10 years ago.
How to Protect Your Brand Name Online
The very first thing that you need to do is protect your brand. Step one is to go out and register your brand name or purchase it. You should not rely on your trademark as a defensive registration. Richard also suggests registering (relevant) extensions and typos of your domain. If you are trying to fight a case of someone having the same brand / domain name, you are looking at at least a $1.500 filing fee, and then you will have your original filing which will be 5-10 hours, your response which will also be 5-10 hours and then you may lose or you may be faced with a lawsuit. You need to be very careful, because you could be found guilty as well.
Just because you have a trademark does not mean that you are not going to be subject to reverse domain name hijacking or being on the receiving end of a lawsuit from a domain investor. Just because you may have a trademark does not mean that they do not have legitimate rights to it.
Options for Purchasing Domain Names
Each domain name is its own unique piece of property. The valuations of domains vary wildly depending on who is sitting at the table. It is not only the buyer, but it is also the seller. There are domain names that may be so much money, but the alternative is that you go to that domain and someone else is using it. So, is it better that it is available for you to purchase or that it is being used by something else? When you say a domain name for sale, your actions should be “I have the opportunity to get this name, so what are we going to do?” There are lots of ways to do it – down payments, leasing on an increasing scale, with escrow, and many other payment schemes. Being a lawyer, your clients rely on you for advice.
Different Industries Using Alternate Extensions
Richard and his team do see people switching, however, if they have the ‘.com’, they generally like to stay on it. They mostly see people with a long .com where they have several characters leading up and they are able to switch to a .legal or .attorney and it makes sense. It also depends on the demographics of the lawyers audience. If you are dealing with older clients, they will not be as familiar and maybe not as accepting as a younger generation would be to the new extensions. It will also attach a younger audience to see that you are on top of things. Everyone has their own different preferences in what they may be looking for.