What’s in a name, asks the adage. But domain names have a lot riding on them, and cyber-squatting does not seem to be dying down
Cyber-squatting, or the usurping of domain names not claimed by reputed companies, has plagued a number of organisations—both domestic and international—in the past.
Cyber-squatting is an illegal activity of buying and officially recording an address on the Internet—which is the name of an existing company or a well-known person—with the intention of selling it to the owner in order to make money.
Reputed brands like the British Broadcasting Corporation (BBC) have had to go all the way to the United Nations body World Intellectual Property Organisation (WIPO) to win the rights to the use of URL bbcnews.com—way back in 2000—when that site was being squatted upon by US-based Data Art Corporation. The BBC subsequently won the case. This is but one example of a number of cases where cyber-squatters have been evicted, when they were found to be encroaching upon famous brand entities.
India has had its own share of cases of cyber-squatting. In September 2009, WIPO ruled in favour of Tata Sons which made Gurgaon-based travel portal MakeMyTrip to transfer the domain oktatabyebye.com to Tata Sons. Again in October 2009, Kotak Mahindra Bank won a cyber-squatting case at the WIPO against a South Korean, who was using the name ‘Kotak’ in an Internet domain.
The cases of cyber-squatting are not just limited to companies; NDTV anchor Barkha Dutt has had to grapple with a case of cyber-squatting too. In 2009, Ms Dutt filed a complaint that a Hyderabad-based cyber-squatter—easyticket—had been using a domain name ‘barkhadutt.com’, which was registered on 8 January 2007.
The latest case is of Panasonic India’s travails. The Indian domain name of Panasonic, www.panasonic.in, has been registered in the name of a certain ‘James Bond’, a resident of Taiwan. With Kochhar & Co’s intellectual property partner, Rodney Ryder, Panasonic approached the arbitral tribunal at the ‘.IN Registry’.
The .IN Registry is a non-profit company created by the National Internet eXchange of India (NIXI) in a move to evict cyber-squatters from using domain names for personal or commercial purposes. It is also responsible for the implementation of the various policies of the department of information technology of the Indian government.
Allegations by trademark holders of various cyber-squatting cases continued to rise in 2008, with a record 2,329 complaints filed under the Uniform Domain Name Dispute Resolution Policy (UDRP), representing an 8% increase over 2007. UDRP is a quick and cost-effective dispute resolution procedure administered by the WIPO Arbitration and Mediation Centre.
The reason most cyber-squatters do what they do, is because they can get money from the celebrity or company for giving up the domain name. The George W Bush Library Foundation was forced to cough up $35,000 for retrieving its domain name. A small internet company had bought www.georgewbushlibrary.com for less than $10 and then subsequently sold it back it to the library.
“People cyber-squat because they try to get hold of domains that other persons or companies want, with the intent of selling it to that organisation or person at a premium,” a top IT expert said.
Now squatters are trying to pull off another stunt. They have now started typo-squatting. Here they register a domain name that is very similar to the original one. If a surfer makes a typing mistake, he’ll enter a fake domain.
Markets may remain bullish over the short term, if global cues remain strong
The market ended on a strong note today, driven by firm global equity markets. It started the day with a gain. However, it slid soon after that and traded
range-bound till afternoon. It regained strength in the afternoon session and ended the day with a strong gain. The BSE Sensex closed at 17,692 points, up 164 points (0.94%) and the Nifty ended at 5,290 points, up 41 points (0.8%). The bullish sentiment may continue to play out over the short term, if global indices remain strong.
Asian stocks rose to an 11-week high on Thursday as China's manufacturing industry picked up and foreign buying boosted the technology-heavy markets of Taiwan and South Korea. The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea, Singapore, and Taiwan were up by 1.23% to 1.74%.
European stocks were also up, buoyed by the manufacturing data from Europe and China. China's official Manufacturing Purchasing Managers Index rose to 55.10 in March from 52 in February. Meanwhile, a separate China manufacturing PMI released by HSBC Holdings Plc and Markit Economics also rose to 57 in March 2010 from 55.8 in the previous month. The Dow Jones Industrial Average dropped 50 points (down 0.47%) to 10,856. The Nasdaq Composite index slid 12 points (down 0.53%) to 2,398 and the S&P 500 shed 3 points (down 0.33%) to 1,169.
Closer home, the National Stock Exchange (NSE) on Wednesday, 31 March 2010, announced a reduction in market lot size of a number of stocks in the derivatives segment. In its bi-annual review, NSE revised the market lot size from a lot of 124 stocks to a lot of 59 stocks. The food price index rose by 16.35% in the week ended 20th March, higher than the annual rise of 16.22% in the previous week.
The fuel price index rose 12.75%, higher than an annual rise of 12.68% in the previous week. Manufacturing growth in March slowed down from the
20-month record high in February. The Reserve Bank of India (RBI) has reportedly kept the limit of State governments’ short-term borrowing from the central bank, called as ‘Normal Ways and Means Advances’, unchanged for the financial year started Thursday. The government announced a fresh package of incentives worth Rs635 crore for the exporters of garments, engineering, electronics and agricultural products. There will be no increase in the subsidised food price distributed to over 11.5 crore poor families till May. The government announcement was an attempt to refrain from taking any unpopular measures with a high inflation environment.
Prime minister Manmohan Singh has said that elementary education will be free which can be termed as a big-ticket programme from the government to consolidate its rural and poor voters. Foreign institutional investors were net purchasers of Rs433 crore. Domestic institutional investors were net sellers of Rs356 crore. Larsen & Toubro (up 1.4%) has entered to an agreement with Rolls-Royce to manufacture light water reactors in India. State Bank of India (up 1.1%) has said that it has extended the special loan scheme till 30th April. Reliance Industries (up 1.7%) is likely to increase its crude oil imports by about 22% in FY11 as the company plans to raise production in its Jamnagar refinery. IT stocks rose on bargain hunting after a recent slide triggered by a firm rupee. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports. Maruti Suzuki India (down 1.8%) said that sales in March this year were 95,123 units which is a rise of 11% over the year-ago period. TVS Motors (up 0.9%) had an increase in sales of 24.35% to 1,46,736 units in March 2010 over the year-ago period. Glenmark Pharmaceuticals’ (up 1.3%) US unit has received approval from the US Food & Drug Administration for a generic drug. The company made this announcement during trading hours today. Shree Ashtavinayak Cine Vision (up 4.9%) said that its board will consider a buyback of shares. State-run power equipment manufacturer BHEL (up 1.4%) announced a jump of about 37% in net profit for 2009-10 at Rs4,287 crore compared to the previous fiscal. The company has received orders worth Rs59,031 crore in 2009-10 compared to Rs59,678 crore in the previous fiscal and recorded the highest-ever orders from the private sector for 14,689MW capacity. The total order book of the company was at Rs1,43,800 crore.
With stock markets taking a positive leap in fiscal 2009-10, investors' wealth almost doubled to cross the Rs60 lakh crore mark led by strong contributions from Reliance Industries and TCS, reports PTI.
Investor wealth, calculated from the combined market capitalisation (m-cap) of all the listed companies on the Bombay Stock Exchange, expanded by over Rs30.32 lakh crore during the reviewed fiscal to settle at Rs 61,65,618 crore. The combined market valuation of all the listed companies was Rs 31,33,086 crore at the beginning of the fiscal on 1 April 2009.
According to the analysis of the top 10 companies in terms of valuation, Reliance Industries emerged at the top with an addition of Rs1,02,872.17 crore to its m-cap during the financial year 2009-10. It added Rs1,02,872.17 crore to its market valuation, taking its total m-cap to Rs3,51,446.01 crore for the fiscal year ended 31 March 2010. Reliance Industries had a total market valuation of Rs2,48,573.84 at the beginning of the fiscal on 1 April 2009.
Top outsourcing firm TCS also saw its valuation swell by Rs99,552.98 crore to Rs1,52,818.18 crore in the same period.
For the entire financial year, the Sensex has registered a gain of 7,819 points, up 80.5% from 9,708.50 points as on 31 March 2009, to settle at 17,527.77 at the end of trade.
Two state-run firms—ONGC and NTPC—together added Rs86,645.05 crore to their m-cap during the said period.
ONGC saw its valuation surge by Rs63,021.81 crore, and NTPC by Rs23,623.24 crore.
Trading firm MMTC added Rs82,637.75 crore to its m-cap, while IT bellwether Infosys Technologies added Rs71,268.28 crore. The country's largest public sector lender SBI saw its m-cap swell by Rs63,808.61 crore.
Private telecom services provider Bharti Airtel added Rs1,693.40 crore to its m-cap and power equipment maker BHEL saw its valuation surge by
Iron ore major NMDC saw an increase of Rs54,118.15 crore in its m-cap.