ICANN Approval for .BIZ and .INFO to limit domain tasting?

In order to limit domain tasting incase of .BIZ and .INFO TLD's. The respective registries made a proposal for changes in their registry contract. They requested with a set of modifications to ICANN, a few weeks ago and the modifications were approved and from now onwards none of the registrar cannot freely delete more than 50 Domain names (or) 10% of domain names "Which ever is greater" registered through them in these TLD's per month. There is no such statement added regarding the refund of registration fee for deleted domain names.

The AGP (Add Grace Period) is the time granted for .com domains to delete and get full refund with in 5 days (maximum). Most of the registrars used this to generate a lot of funds by placing adsense for domains to earn even in millions. Termed as domain Tasting. A law suit was filed against Google and ICANN and at the same time Google updated its policies for adsense on domains they added few terms as such no ads will be provided for domains of age less than 5 days and ICANN introduced a fee if the domains deleted and deletion will not be more than 10% when asked for refund. and a small fee is charged for deleting domain names to limit domain tasting

Now the same situation of domain tasting is followed by registrars in other extensions. As .com tasting is limited the registrars jumped in to other extensions like .info and .biz. They started to register a lot of domain names and delete them if they didn’t satisfy parked earnings, the same with 5 days. It creates an unnecessary confusion for real buyers, as the domain not available for registration five days ago is still unregistered. Is there any fault in registry database (or) any scam to suck funds from them like that, These tasting registrations are useless and causes unnecessary load on registry databases. ICANN tries its best and acts fast in this regard to limit Domain Tasting.

Web Magic Ventures won its Ace.com at UDRP arbitration?

ACE limited an insurance company made an offer of 450,000 USD for a three char .com domain "ace.com" from its current owner Web Magic Ventures, as they rejected the offer to sell that domain ACE limited filed an UDRP (Uniform Domain Name Dispute Resolution Policy) arbitration against Web Magic Ventures to acquire that domain and failed. UDRP panel left ACE limited without charging any penalty for its reverse domain name hijacking. Finally Web Magic Ventures won. ( Note : there are so many 3 char domains still under dispute, even .info and .biz extensions)

This domain name was originally registered by Web Magic Ventures. However ACE Limited filed a suit to claim for its trademark since 1985 at common law trademark rights. That panel concluded "ace" as a generic term and not a branded name that can be trade marked. They revealed that ace.com was not registered under bad faith to spoil the reputation of ACE Limited

Finally ACE Limited tried UDRP defense. They said that Web Magic Ventures do cyber squatting simply buy and sell domain names they park that domain for earnings and not registered to do any business like that. But Web Magic Ventures pointed that they started their business on their several domains

ACE Limited didn’t disclose any thing to the panel regarding the multiple attempts made by them to purchase the domain name from Web Magic Ventures. ACE Limited made several offers, starting from $450,000. Web Magic Ventures repeatedly rejected the offers and said the domain is not for sale. After few years of failed attempts to buy the domain name "ace.com", ACE Limited filed the UDRP arbitration.

Although Web Magic Ventures won the dispute, the panel did not find reverse domain name hijacking. It found that ACE Limited does have any rights on “ace.com” and left ACE Limited with out charging any penalty.

Note : Buy generic domain names only. Try to develop the domain, don’t park for prolonged periods. In most cases competitor ads may come and if they felt that it is a right domain for them. They will try to acquire the domain name, either by paying the owner or by filing a law suit. If you feel your domains are of lesser value and probably you wish to sell, better chance you may meet a fellow like ACE limited to buy one of your domain and you will sell that domain name for some high prices. Then you may be, quite a lucky fellow.