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12|21|2007 08:41 pm EDT

IREIT and Verizon Settle Legal Dispute

by Adam Strong in Categories: Legal Issues

A legal battle between Verizon and domain portfolio owner Internet REIT has ended with a settlement between the two parties.. 

According to a report on  Fox Business :

The settlement between the parties includes a monetary payment to Verizon and the issuance of a permanent injunction prohibiting Internet REIT from registering, trafficking in, or using, as a registrant, any domain name that is identical or confusingly similar to the Verizon trademarks. Additional details regarding the resolution of the case are confidential.

The case between iREIT and Verizon has been going on for some time and has drawn a fair amount of negative mainstream media attention to the domain space.  The mounting legal troubles and combined legal troubles likely contributed to iREIT graciously bowing out of their involvement with the Internet Commerce Association.  Meanwhile, no word yet on whether Verizon plans to continue doing essentially the same thing they sued iREIT over.

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3 Comments

Matt Gibbs

December 22, 2007 @ 2:45 am EDT

And domainers wonder why people think domaining is just registering the names of businesses and cybersquatting.

Doc

December 23, 2007 @ 10:23 am EDT

So now what happens? The attorneys who represent other company trademarks go through Ireit holdings (or other portfolios) and cookie cut the same suit looking for a “settlement”?

What are the repercussions to Marchex or Oversee etc? When are the suits going to hit the TM typo auctions by snap or pool etc and the buyers from those? These suits with the $100k potential penalties per name are scary enough, but what if the latest suit is successful in it’s name “counterfitting” claim with a penalty of $1mill threat?

Scary stuff Manerd!

[…] defendants named in high profile legal battles in the domain space, including the Vulcan Golf and Verizon lawsuits. Domain Name News has covered some of Citizen Hawk’s tactics previously in this […]

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