David Keegel wrote:

> I think there are three (orthogonal?) properties

Here's my version of the same thing:

1. Chain of authority back to IANA

The chain of authority comes with an obligation that says that

2.  Delegation of the domain for the purpose of taking registrations
    of sub-domains from unrelated entities
3.  Registrations and delegations of sub-domains are portable.

Right now, the obligations are probably moral, but eventually they'll
probably be contractual.

Leni.