Goldman Sachs, New York Life Join Web Group
The Coalition Against Domain Name Abuse welcomed two Wall Street mainstays to its membership ranks this week -- Goldman, Sachs & Co. and New York Life Insurance Company. The additions top off an 80 percent increase in membership in 2008, which the group says is proof that more businesses recognize the need to fight cyber-squatting, phishing, and domain name tasting. CADNA held its strategic planning meeting for 2009 last week where experts in the areas of Internet technology, intellectual property, legislative policy, and international relations met with brand representatives.
Based on conservative projections, the three-year cost to business of registering new domains in the proposed new top-level domains to prevent loophole exploitations and combat significant harm caused by fraudsters could be more than $1.5 billion, CADNA said in a press release. However, challenges facing brand owners go beyond the cost of what the group believes is misguided efforts by the Internet Corporation for Assigned Names and Numbers. CADNA cited efforts to pass the Anti-Phishing Consumer Protection Act in Congress and World Intellectual Property Organization dispute resolution issues as other topics of interest.
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