There are many events which may lead brand owners to allow a domain to expire: the merger of two companies, the end of a marketing campaign, or the brand is no longer trading in a particular country. While these domains may not be of use any longer, brand owners may want to think twice before letting them expire.
Cybersquatters Are Watching
Squatters keep a keen eye on expiring domains. If they see one that was owned by a well-known brand, it will be perceived as having value and are likely to register it. The squatters could then attempt to ransom it back to the brand owner and/or in the meantime monetise it with a parking page, which contains pay-per-click advertising links.
If an expired domain is picked up by a domain squatter, the brand owner may have rights to recover the domain, however, this recovery process could be expensive and lengthy. For example, recovering a .de (German) domain through legal action can cost up to €20,000 and the recovery process can take up to 8 months. Alternatively, a .de domain could be renewed for €34 per year. In other words, you could renew a .de domain for over 500 years for the same price of going to court.
Consider this when deciding if you are going to keep a domain or not - are you okay with a third party owning and using the domain? Even if a domain no longer holds value to you, it could still be harmful in the hands of another.
Lexsynergy offers an Auto-Renew function to ensure wanted domains do not accidentally lapse. We also help our clients create a Domain Strategy and Policy which will determine when and how it is appropriate to let a domain expire. Does your company have a Domain Policy, incorporating a deletion policy and procedure, in place? If not, our domain experts are here to assist. Creating a Domain Strategy and Policy is a complimentary service and available to all Lexsynergy clients. Contact us today at email@example.com.