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The Latest Domain-Name Gold Rush – Businessweek

CANN has received more than 1,900 applications. On June 13, it will release information on who has applied for what extensions. Then it will hold a six-month “review and contention” period in which the new applications can be challenged, with batches of new extensions set to go into use in 2013. “If you’re Major League Baseball and you haven’t applied for .mlb but someone else has, this gives you the opportunity to object and ensure that this is not going to infringe your rights,” Hnarakis explains.

Commercial builder George Minardos, president and founder of Los Angeles-based Minardos Group, says he has spent $1.2 million applying for .build, .construction, and .expert. The money covered $185,000 in application fees; legal, accounting, and marketing expenses; and preparation of the 500-page applications he submitted to ICANN. The application window, which ran from January through May, was “one of the most rigorous processes I’ve ever been through, and I’ve dealt with government RFPs for physical projects,” Minardos says. “This makes that pale in comparison. You have to prove your viability to run a piece of the Internet.”

via The Latest Domain-Name Gold Rush – Businessweek.

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