Verizon wins cybersquatting suit against OnlineNIC for $31.15 million.
Wired PR News.com – Verizon has won a multi-million dollar lawsuit against a domain registry company who engaged in cybersquatting. As reported by PC World, the wireless giant won a judgment of $31.15 million in damages against OnlineNIC, which was found to have registered a minimum of 663 domain names that infringed on Verizon trademarks. Yahoo and Microsoft have brought similar charges against the company as well.
As part of the judgment, OnlineNIC also has to transfer the domain names verizon-cellular.com and buyverizon.net to Verizon and is not allowed to use Verizon trademarks to sell or trade domain names any further.
As noted in the PC World report, Microsoft’s lawsuit alleges OnlineNIC used their trademarks for more than 97 domain name registrations. Yahoo’s recent suit claims the company has used their trademarks for 500. Ten other defendants are also named in that suit.