I have a site that is 6 months old and recently a visitor warned me that the domain name was too similar to a corporate one and that he suspects they will contact me soon. So, what should I do? Should I take his advice and buy another domain and redirect my site there or should I wait and see what happens? The site has been up for 6 months, so the corp. may have already seen it (and perhaps not objected), but I don't know how long it usually takes them for such matters. So, what would you do in this position?
How is the current web site, is it developed and having a steady traffic or is it just starting? If it is just starting I would say try avoiding such problems and get another domain. If it is already well developed you may want to consult an IP lawyer to see if it is really worth the risk.
It is getting some steady traffic from Google and I would prefer not to move it, but obviously if they are going to take action I will definitely move it. Is there any harm in contacting them upfront and asking them about it?
You won't want to contact your potential enemy about what you are going to do, would you . If it is getting steady traffic, just consult a lawyer will be 100x better than consulting the other party.
It sounds like a possible trademark not a copyright issue. We don't really have enough info to give a good answer in this case. This should help ...in order for a complainant to take your name away at an ICANN UDRP (Universal Dispute Resolution Policy) hearing they must demonstrate: (i) your domain name is identical or confusingly similar to a trademark or service mark in which the complainant has rights; and (ii) you have no rights or legitimate interests in respect of the domain name; and (iii) your domain name has been registered and is being used in bad faith. See link for explanations: http://www.icann.org/udrp/udrp-policy-24oct99.htm
This isn't a copyright issue, but a trademark one. If you are in the same line of business as the other site, and your domain contains their name, or similar, then you could have potential infringement issues. A trademark holder doesn't have to notify you of infringement, they can just sue you (for damages, all income the site has generated, attorney fees, etc) - however, most will request you turn of the domain before taking any legal action. If you do nothing, and they contact you, they usually won't allow you to redirect the old domain to the new domain (they want the domain in their name immediately). Some TM holders are very aggressive, some aren't. You may or may not ever hear from them. You could do some research and see if this other company seems to have taken action against other domains in the past.