Domain Bid War About to Break Out: Domain Name Scheme

Companies have been urged to start budgeting for a new domain name scheme to protect their brands and prepare themselves for bidding wars that could cost tens of millions of dollars. Towards the end of the year, the Internet Corporation for Assigned Names and Numbers (ICANN) will start accepting applications for generic top level domain names (gTLDs). Unlike the current scheme, under which a string of characters appears before the dot in an internet address, gTLDs appear after the dot — for example, .qantas, .holiday or .woolworths. It would be a tight race to the finish line as the application window was only open for 45 days, warned AusRegistry chief executive Adrian Kinderis