VeriSign would control .com domains until 2012
VeriSign Inc. has announced that they are dropping their case against the nonprofit body ICANN in return for the rights to control the lucrative business of maintaining .com domains on the internet. This means that the disputes between the ICANN and VeriSign are now more or less over.
It also comes at a time with ICANN had its own share of problems with China, Iran and other countries that want more direct control over the domain-name system that guides traffic around the Internet. VeriSign Senior Vice President Mark McLaughlin said in a statement: “It really hits the reset button on the relationship between VeriSign and ICANN and allows everybody to get focused on more important things, like security and stability and the globalization of the Internet.â€
ICANN on their part maintained that the proceedings have shown that issues involving the domain-name system are best resolved within ICANN. ICANN President Paul Twomey said in a statement: “We can actually organize that through ICANN’s own structure, which has technical people and business people and governments all involved in it.â€
The agreement between the two organizations means that VeriSign gets to maintain control of the database of 35 million “.com” domain names until 2012. It was due to come up for renewal in the 2007.