I bought a domain name, bank want it back, what I do?

[1-solutions]

I registered a domain name several days ago. But I got a call from its previously owner, a parent company of a western bank Pueto Rico. They told me it was mistake that they losted it because forgot to renew it. They offer a small amount to get it back and warning me better accept their offer. They said wholding.com is their registered trade mark or whatever. If they go through legal process to get it back, they probably not paying anything.

Can they do that? I got this domain by backordered it from a large domain registrar. Since the domain was dropped on Jan 21st. The backorder process is industry standard process.

Can they really get it back from me through legal process?
Any advice will be appriciated.

Regard,
Joe (in California)

 

[divgradcurl]

Can they really get it back from me through legal process?

If the domain name contains their registered trademark, then yeah, they probably can, via either the Uniform domain name dispute system through ICANN, or via the anticybersquatting act under trademark law.

As for what you can do, you have two choices. First, sell it to them. However, this is not without risk. If they make and offer, and you accept, if they decide not to pay you and go through ICANN or the courts to reclaim the name, you are sunk -- the courts have held that offering to sell a domain name that contains a trademark to the trademark holder, even if the trademark holder initiates the bargaining, is considered essentially "proof" that you are cybersquatting, and you will surely lose the name, and probably won't see a dime. OF course, if the amount they are offering is less that what litigation would cost, then you may be on more solid footing. But be aware of this if you decide to go this route.

Second, you could ignore their demands or offers, and use the domain name. Their are exceptions to the laws that allow someone who has acquired a domain name to use it, even if the domain name contains someone else's trademark, if the registration was made without intending to deny the markholder a right, if the domain name is actually USED, and if the use is one which does not step on any of the trademark holder's rights. If you can meet that burden, you'll be able to keep the name even if they do pursue legal action or action through ICANN.

The choice is yours.

 

[1-solutions]

I can not found wholding.com or wholding was registered trademark in US:

http://www.uspto.gov/main/trademarks.htm

Since W Holding Company Inc. is in Pueto Rico, if they registered in Pueto Rico, and I an in California. Can they still be able to go through legal process?

Thanks,
Joe

 

[divgradcurl]

I can not found wholding.com or wholding was registered trademark in US:

That will certainly make it more difficult for them to prove cybersquatting, but not impossible -- they still may be able to claim and prove "common law" trademark protection.

Since W Holding Company Inc. is in Pueto Rico, if they registered in Pueto Rico, and I an in California. Can they still be able to go through legal process?

Sure, but if they go through the courts, they'll have to do it in a U.S. court in California -- but that would be true no matter where they were located, since you are in CA.

Now, if they go through ICANN, then the locations of people don't really matter -- ICANN has the authority to handle domain name disputes pretty much regardless of the location of the disputees -- assuming, of course, that the dispute is over TLD's that ICANN has authority over...