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This is the first post in a series from Corey Grant, Senior Industry Consultant at ARI Registry Services, on what .brand TLDs need to do to get started and make the most of their TLDs.
If you are a .brand Top Level Domain (TLD) and have a Registry Agreement from ICANN which you have not yet signed, you need to sign it by July 29, 2015.
You’re not alone; there are many others in the same boat—all staring at their Registry Agreement trying to figure out what to do next.
The bad news? The biggest challenge will be getting everything signed off quickly. It will take a significant amount of time and energy in the lead up to July 29.
The good news? This is achievable, and there are people who can help.
How did we get here? When ICANN created a specific category for brands with Specification 13, they also provided a path for .brands to request a nine month extension to the deadline for signing the ICANN Registry Agreement. The majority of .brands elected to take this path, moving their deadline out to July 29, 2015.
Most .brands used that deadline extension to carefully consider their launch plans and take their time launching. We are starting to see some movement from big players now, such as Barclays Bank, BMW, Samsung, and more.
What needs to happen: legal
In short, your legal department needs to agree that the ICANN Registry Agreement can be signed.
There will be multiple people listed as eligible signatories from the original ICANN application (this list may or may not have been updated). Identifying the best two or three people on this list to sign the document, and ensuring that these people are available in the coming days will help meet the tight timeframe and avoid the unnecessary difficulty of chasing your CEO down the corridor.
For legal teams who have not yet reviewed the Registry Agreement, it is important they start as soon as possible. To help ease the process, ensure they understand the following:
What needs to happen: financial
Unless you’re lucky enough to have sign-off for the whole project, most executive committees or similar parties will require a summary of costs. It typically makes sense to structure the financials in relation to year one (higher due to launch costs), then years two onward (these won’t vary as much).
A quick breakdown of typical costs:
Bringing it all together
Applications for new TLDs closed early 2012, so there is a possibility that some in your organisation have lost track of the project over the last three years. In addition to the financial and legal hurdles, a significant challenge might be convincing your executive committee in such a short timeframe. Here are some angles that might help:
Easy, right?
For .brand TLDs that have not yet signed the ICANN Registry Agreement, everything points to taking action right now.
Whether internal challenges are with legal, finance or executive buy-in, now is the time to ensure there is a plan in place to address them quickly. Look to superiors and other advocates for support.
If there is a chance that even one step in the path to getting your ICANN Registry Agreement signed is at risk, reach out now to a trusted industry advisor and ask for help. No brand wants to be the one that let their .brand TLD slip away.
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