Companies in the Middle East must protect themselves against so-called cybersquatters after the internationalisation of web domain names by the internet regulator next year, lawyers say.
As a new gold rush is expected to take place after the Internet Corporation for Assigned Names and Numbers board announced last week it would introduce non-Latin characters, including Arabic, to internet domain names, companies will need to be at the front of the line to ensure their trademark is not bought by someone else.
"From a company perspective, if you own a brand and you are on the internet, you've got to make sure you're the only Arabic person with that brand," said Rob Deans, a partner with the law firm Clyde & Co in Dubai.
Cybersquatting or "domain squatting" are internet jargon for individuals who register words and names, including trademarks, with the intention of selling it.
Cybersquatting has been curtailed as companies lodge complaints with the World Intellectual Property Organisation, but that process is often time consuming and may become backlogged with the influx of new scripts online, Mr Deans said.
"What we'll get is a significant amount of cybersquatters, which will become a bigger problem because it will be that much harder to get domain names back," he said.
@Email:dgeorgecosh@thenational.ae
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
RESULT
Aston Villa 1
Samatta (41')
Manchester City 2
Aguero (20')
Rodri (30')
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THE SPECS
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The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
What is Bitcoin?
Bitcoin is the most popular virtual currency in the world. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. A Bitcoin itself is essentially a line of computer code. It's signed digitally when it goes from one owner to another. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.
The "miners" use computers to make complex calculations that verify transactions in Bitcoin. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers.