Approached to buy a domain

Thread: Approached to buy a domain

  1. ZX7R's Avatar

    ZX7R said:

    Default Approached to buy a domain

    Has anyone had any experience with negotiating the sale of a domain that they own?

    I've been approached by a U.S. Company acting as a third party (they check out okay) to buy a .co.uk domain that I own.

    I don't want to list the domain name but it relates to a multi-million dollar global brand. So I have a pretty good idea of who they are acting on behalf of.

    I've been too busy to respond to emails and a member of staff from the company did call me (Whois lookup). Told them I was busy and that I'll get back to them.

    Anyway, after a couple of weeks silence I receive an email offering a several hundred quid. It's a fantastic return on a 5 quid per year investment but I strongly suspect this initial offer is just to test the waters or a low-ball first offer.

    No lawyers involved and I can only suspect it is because I obtained the domain prior to any trademark, plus I am in fact hosting some sort of static page (not offering it up for sale, but actually using it).

    My research on domain valuation simply throws up 'how much does the company value its brand?'.

    Anyway, has anyone here had dealings with a similar company, looking to buy your domain? How did you negotiate the deal? Any advice?

    Cheers.
     
  2. akimba's Avatar

    akimba said:

    Default Re: Approached to buy a domain

    Sounds interesting ;-)

    If multi million company then few hundred doesn't sound like they are too interested?

    Also I thought that you had to prove your need for the domain if its contested? there was a big hoohar over waynerooney.co.uk years ago where someone bought it but didn't use it just to make a profit, I think it went to court and he had to give it up for nothing? I maybe wrong tho.

    Principal is tho, if you had Cocacola.co.uk how would you justify it is useful to you/your business?
     
  3. akimba's Avatar

    akimba said:

    Default Re: Approached to buy a domain

    Heres the information on the case, matey was accused of cybersquatting and cost him 6k in legal fees and had to give up the domain in the end.


    Rooney wins his fight for website

    Rooney took the action to gain control of the website domain name

    England football star Wayne Rooney has won a legal battle against a Welsh TV actor for the ownership of a website in the player's name.
    Everton fan Huw Marshall, from Wrexham, registered WayneRooney.com in April 2002, when the striker was just 16.

    The case had been taken to the United Nations' World Intellectual Property Organisation in Geneva, Switzerland.

    A ruling was made that the domain name must be handed to the Manchester United striker and his management company.

    A World Intellectual Property Organisation (WIPO) panel said the present owner's claim he had registered the domain in order to create a fan site was "a difficult story to swallow".

    It added that the current owner acted in "bad faith" when he registered the domain, and that it should be handed over to Rooney within 10 days unless the decision is challenged in a civil court.

    The WIPO panel was set up in 1999 to allow those who think they have the right to a domain to gain control of it without having to fight costly legal battles or pay large sums to so-called cybersquatters.

    Unfortunately he gets the domain name back and I'm faced with a legal bill of over 6,000

    Mr Marshall, an actor who appears in S4C's Welsh-language drama Tipyn o Stad, registered the domain six months before Rooney's profile soared after scoring a last minute goal for Everton against Arsenal.

    The strike made him the Premiership's youngest goal-scorer at the time.

    Mr Marshall, a lifelong Everton fan, said he had registered the name after seeing Rooney play in April 2002, with the view to setting up an Everton-based website.

    But the actor said he never got round to building the site and then Rooney had left Everton for Manchester United.

    'Huge legal documents'

    "His agent actually contacted me back in 2002 before they registered Wayne Rooney as a trademark asking to purchase the website.

    "I said if they wanted it they were more than welcome to have it, but then that fizzled out and they never got back to me," he said.

    Mr Marshall said he had fought the action because of the way Rooney's agents had handled the issue.

    "They hadn't contacted me for four years and then the next thing I know I'm getting huge legal documents from Geneva saying I'm denying poor young Wayne a living," he said.

    "Unfortunately he gets the domain name back and I'm faced with a legal bill of over 6,000."

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  4. ZX7R's Avatar

    ZX7R said:

    Default Re: Approached to buy a domain

    Well the company have called again to confirm receipt of their initial email offer. They are keen to purchase it.
    I'm talking to a lawyer friend who has a little bit of knowledge of this area and will assist with a negotiation plan. I'm just hoping that the price can be raised. :-) Will let you know the end result.
     
  5. Mobileman's Avatar

    Mobileman said:

    Default Re: Approached to buy a domain

    Hope it's into the 4 figures if it's a multi national if not 5 !
     
  6. Chubbs's Avatar

    Chubbs said:

    Default Re: Approached to buy a domain

    Where I work registered variations of our name including typos, which is limitless when you think about it.
     
  7. piggzy's Avatar

    piggzy said:

    Default Re: Approached to buy a domain

    Although a different matter altogether. When I was waiting for a compo payout my solicitor said "never accept the first 2 offers, its standard practice" dunno if that applies here.
     
  8. ZX7R's Avatar

    ZX7R said:

    Default Re: Approached to buy a domain

    Thanks.
    I'm going to call them today and put forward a higher and fairer proposal.
     
  9. lagigolo's Avatar

    lagigolo said:

    Default Re: Approached to buy a domain

    Quote Originally Posted by ZX7R View Post
    Thanks.
    I'm going to call them today and put forward a higher and fairer proposal.
    That's what i would do, say that you hadn't thought about selling it but your willing to let them have it for .........said amount. That way it doesn't sound like your sitting on it too sell and being flexible for them.

    Hopefully my one i bought to sell comes up one day and will be back asking the same things.
     
  10. Ganty's Avatar

    Ganty said:

    Default Re: Approached to buy a domain

    How did this turn out in the end?