Antitrust NewsWatch: VeriSign and ICANN sued over alleged anti-competitive contract terms | Hearsay.com

Tuesday, November 29, 2005

VeriSign and ICANN sued over alleged anti-competitive contract terms | Hearsay.com

SAN JOSE, Calif. - A trade group known as the World Association of Domain Name Developers (WADND) sued VeriSign and ICANN (Internet Corp. for Assigned Names and Numbers) on November 28 in the San Jose federal court. WADND alleges VeriSign's proposed registry contract, which would remain in-force through 2012 for '.com' registrations, is anti-competitive. The lawsuit also claims the deal creates a virtual monopoly for VeriSign's '.com' and '.net' registries, allowing it to set fees above market price, and creates an opportunity to extend this monopoly into new markets.
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