VietNamNet Bridge – The domain name war has become stiffer and more and more Vietnamese enterprises are experiencing troubles due to bad management of their domain name.
The owner of the famous Vietnamese Trung Nguyen brand name Dang Le Nguyen Vu said that he is preparing for a “legal war” where he will sue a Chinese business for illegally using Trung Nguyen’s G7 trademark in China. Therefore, dealing with the complications relating to the enterprise’ domain name has been postponed.
The story began 10 years ago, when Trung Nguyen had trouble with its domain name in the US. The same problem also occurred in Australia, and Vu said he continuously receives proposals from partners to sell his domain name. Another headache is that the domain www.trungnguyen.com once belonged to an individual in Japan.
The big lessons
Pham Viet Anh, Chair of Leftbrain Connector, a consultancy firm, received a proposal to sell the domain name with the suffix “.cn” from a company in China. Anh related that previously the company registered for ownership of two domains, including one in Vietnam with the suffix “.vn” and the other with the suffix “.com”, thinking that two would be enough for a small company. Anh admitted that to date, he still is not thinking of expanding operations to foreign countries. He juststill focuses on developing the domestic market, and therefore does not think that his enterprise’s domain name would be appropriated by someone.
However, Anh thinks that the disputes relating to the domain name are always long and complicated stories. Both Vu and Anh think that the domain name war has become stiffer and more and more Vietnamese enterprises are experiencing trouble due to poor management of their domain name. Vu said that the story about a Viet Kieu (overseas Vietnamese) registering Trung Nguyen’s domain name is a big lesson for everyone. A bustling domain name market has taken shape in the world, where traders predict the development potentials of enterprises in developing countries, including Vietnam, and they register the domain names before the enterprises themselves, so that they can sell the domain names to the actual owners of the domain names for profit.
How much are the domain names?
According to Thoi bao Vi tinh Saigon, recently the trading of domain names has become more active, especially after the Ministry of Finance released a new document in November 2010 stipulating the fees to register and maintain domain names.
Whenever enterprises come to management agencies to register domain names, they are told that the same domain names have been registered before by other people or institutions. After that, the enterprises receive emails that say that the enterprises will get the domain names which match the enterprises’ names, if they agree to pay money, large sums of money.
Analysts have pointed out that it is now not costly to register and maintain a domain name, while the owners of domain names can earn large sums of money from selling the domain names which are “beautiful”, easy to remember, or from names that coincide with the names of famous profitable enterprises.
According to the Vietnam Internet Network Information Centre, in order to maintain the international domain names with suffixes “.com”, “.net”, “.org”, enterprises have to pay an annual fee of 570,000 dong. The fee for maintaining the domain names with two or three characters with suffix “.ws” is 11,269,000 dong and 18,909,000 dong plus the fees to establish the domain. A domain name with the suffix “.vn” has initial fees of 350,000-450,000 dong on average and the maintenance fees of 480,000-600,000 dong. The same fee levels are also applied to the domain names with suffixes “.com.vn”.
According to the latest decision by the Ministry of Finance, the highest domain name granting fee is 350,000 dong and the highest maintenance fee is 40 million dong per annum.
At this moment, the domain name phamnhatvuong.com, which coincides with the name of the Vietnamese well known businessman Pham Nhat Vuong, who is considered the richest Vietnamese stock millionaire with the stock assets of $780 million, is being offered at $100,000. Meanwhile, trandinhlong.com, which coincides with the name of the owner of Hoa Phat Group is being offered at $80,000.
About 3700 domain names are being offered on bantenmien.vn. Especially, caulacbodaigia.com and kimcuongdaquy.com are being offered at $25,000, while mydinh.com at $322,277.
Source: Thoi bao Vi tinh Saigon