It is a fundamental tenet of domain name policy world wide that registrants
only obtain a licence to use the domain name and do not 'own' the name.
Licence periods vary from country to country. In almost all cases, renewal
of the licence is 'automatic' provided that the renewing registrant still
complies with the policy. At the gtld level there is no 'policy' to speak of
but registrants still need to renew the name at the end of the licence
period otherwise the name is available to others to register.

In Australia there are various eligibility rules that apply to second level
domain names. It is only in the event that a registrant is no longer
eligible that they would be unable to re-licence the name. This has always
been the case.

Regards,

Chris Disspain
CEO - auDA
ceo§auda.org.au
+61-3-9349-4711
www.auda.org.au


-----Original Message-----
From: Neale Banks [mailto:neale§lowendale.com.au]
Sent: Tuesday, 18 December 2001 13:11
To: dns§lists.auda.org.au
Subject: Re: [DNS] Notional value of a domain name

On Tue, 18 Dec 2001, Ron Stark wrote:

> This is an open question, because I don't have an answer.
>
> If a domain name has no intrinsic value as it's merely a temporary license
> for use, how then can names be auctioned to the highest bidder, on the
> premise that they indeed have value?
>
> I have trouble reconciling these opposing positions.

"IANAL" - but I'd be tempted to guess that it's not the name which is
being auctioned but rather the "temporary license for use" (or whatever
you'd like to call it).

So the (likely) tenure of the license would presumably be a significant
influence on the price.

Regards,
Neale.


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