The Board of ICANN today approved a recommendation that could see a whole range of new names introduced to the Internet's addressing system. said Dr Paul Twomey, President and CEO of ICANN. A final version of the implementation plan must be approved by the ICANN Board before the new process is launched. It is intended that the final version will be published in early 2009. said Dr Twomey. Presently, users have a limited range of 21 top level domains to choose from — names that we are all familiar with like .com, .org, .info. This proposal allows applicants for new names to self-select their domain name so that choices are most appropriate for their customers or potentially the most marketable. It is expected that applicants will apply for targeted community strings such as (the existing) .travel for the travel industry and .cat for the Catalan community (as well as generic strings like .brandname or .yournamehere). There are already interested consortiums wanting to establish city-based top level domain, like .nyc (for New York City), .berlin and .paris. said Peter Dengate Thrush, ICANN's Chairman. The present system only supports 37 Roman characters. Upon approval of the implementation plan, it is planned that applications for new names will be available in the second quarter of 2009. Frequently asked questions on the process 1. Are you selling these new names? ICANN is not "selling" new top level domain names. There will be a limited application period where any established entity from anywhere in the world can submit an application that will go through an evaluation process. It is anticipated that there will be additional rounds relatively soon after the close of the first application round. 2. What's to stop others registering my brand name? Trademarks will not be automatically reserved. But there will be an objection-based mechanism for trademark owners where their arguments for protection will be considered. 3. How did this proposal get developed? ICANN has a multi-stakeholder policy development process that served as the foundation for the process design. It involved consultation with domain name industry, trade mark attorneys, the business sector, users, governments and technicians. 4. How will offensive names be prevented? Offensive names will be subject to an objection-based process based on public morality and order. This process will be conducted by an international arbitration body utilizing criteria drawing on provisions in a number of international treaties. ICANN will not be the decision maker on these objections. 5. When will all this happen? ICANN is working towards accepting the first applications in the second quarter of 2009. Related: article ICANN original info</div>
yes this is definitely not good news. I think I might hold of on purchasing valuable .com domains for a while.
the extensions are cost prohibitive. the total package for branding would still include the .com and the .com may be the deciding factor in which company is top dawg in the marketplace. having the .com and other extensions, plus your new vanity .yourcompanyname + universal short code will be the home run.