Domain names serve an important purpose—they are the main way people find you. Your name must be recognizable and should match your company name. The challenge with domains is that anyone can buy a domain name, including names related to your business; therefore, when deciding on your domain name, you should also consider how many domains you want to purchase. Here we look at why you should consider purchasing more than one domain name for your business.
Sorry, This Name is Taken
Many companies don’t consider this possibility. They enter their domain name at the registrar only to find it is already taken. Anyone can buy any domain name if it isn’t already registered. Finding a domain name can become more difficult in a crowded industry, and the practice of “cyber-squatting” came on the scene almost as soon as the world wide web was launched. These pirates bought up a long list of domain names with the intent to sell them to desperate companies trying to claim their own company name rights. They looked at domain name purchases as an investment, a business opportunity; however, legitimate domains have difficulty claiming what should automatically be theirs.
If you find your name is taken, you have a few options. The obvious one is to reach out to the current owner and see if you can make an arrangement. This option can be costly depending on with whom you are dealing. If you find you are in an overcrowded industry where all names are taken, you can check the registrar’s listings for alternatives based on your original entry. Review the list based on how many domain names you want to purchase. Be sure you consider the cost of owning multiple domain names vs. the possible negative impact on your company of not owning a particular name.
When buying domain names remember that all registrars reserve the right to change your agreement so read your contract carefully.