Home / Industry

Secondary Market Buyers: Please Do Your Due Diligence!

As with all business transactions online, there are certain people who will try to prey on the public through scams masquerading as legitimate business deals. The same is true in connection with the sale of .CO domain names on the secondary market.

It has come to our attention that someone is reaching out to potential domain investors and attempting to sell "fractional shares" of one or more high value .CO domain names for which they do not actually own the registration rights. By attempting to sell unregistered domain names to unsuspecting investors, they are committing fraud. Make sure they aren't committing a fraud on you!

So what can you do to protect yourself? Before you agree to purchase full or fractional ownership rights for any .CO domain name, please do your due diligence. First, make sure you are dealing with someone who actually has the legal right to sell the registration rights for the domain name.

To start, visit www.whois.co, and check to see that the seller you are working with is listed as the named registrant for the domain name, or is an authorized agent of the person listed. We also recommend that you memorialize any domain name purchase or sale with a basic legal contract that will protect your rights and interests.

Every day the .CO community is growing and the secondary marketplace is becoming more exciting and active. More .CO domain names are being bought and sold; More.CO websites are being built; and more new investments are being contemplated. It is only in the rarest of cases that some scammer will try to throw wrench into the fair and orderly functioning of the secondary market. But even if it's just one case — it is one too many for us.

So please, take the time to do your due diligence — and share this information with your friends and colleagues so they too will be protected.

About .CO Internet

.CO Internet

.CO Internet S.A.S. is the Registry Operator for the .CO top-level domain. Short, memorable and credible, .CO is the hot, new ending for web addresses all over the world. From start-ups and small businesses to big brands and multinational corporations, .CO is increasingly becoming the web address of choice for innovators and entrepreneurs across the globe. Please visit http://www.COinternet.co and http://www.go.co for more information. You can also follow us on Twitter @dotCO and at Facebook.com/dotCO. (Learn More)

Related topics: Cybercrime, Domain Names, Registry Services, Security, Top-Level Domains

WEEKLY WRAP — Get CircleID's Weekly Summary Report by Email:

Related Blogs

Related News

Topics

Industry Updates – Sponsored Posts

Verisign Celebrates .com's 30th Anniversary, Launches Domain Name Contest

What's in Your Attack Surface?

New .VOTE and .VOTO Domains Sunrise Period Begins

New .LGBT Domain Sunrise Period Begins

Season's Greetings - 2014 End of Year Message from DotConnectAfrica

Minds + Machines in 2014 and 2015

New .VOTE and .VOTO Domains Launched

Consumers Prefer the .ORGANIC Domain for True-Organic Goods

DNW Podcast Interview with Antony Van Couvering

TLD Registry and Right of the Dot Establish a Domain Name Industry "Dream Team"

TLD Registry Ltd Welcomes New Board Members

New .LGBT Top-Level Domain Launched

.sydney Domain Names Now Available in Pre-Release

"Chinese Domaining Masterclass" to be Presented at NamesCon Las Vegas in January 2015

Auction and Sales Channel Update

Radix Set to Launch .SITE TLD in 2015

Annual Manthan Award Event This Week

Domain Name .Africa Faces Hurdles - Q&A with Sophia Bekele

Q3 2014 DDoS Trends: Attacks Exceeding 10 Gbps on the Rise

LogicBoxes Announces Automation Solutions for ccTLD

Sponsored Topics

dotMobi

Mobile

Sponsored by
dotMobi
Afilias

DNSSEC

Sponsored by
Afilias
Verisign

Security

Sponsored by
Verisign
Minds + Machines

Top-Level Domains

Sponsored by
Minds + Machines