
Where do I stand legally?
I own a 8yr old PR 3 domain that currently has no website on it. I don't promote anything using this domain and it literally is sitting dormant right now.
I received a letter from an extremely large company stating that they had concerns about the domain having their brand name in it. The company have a pretty generic brand name and I think they have decided to branch out into another huge market and I happen to have the domain they want.
They are saying they will pay my domain costs and compensate me for releasing the domain to them. I have no problem working something out with them but I'm not clear on what kind of rights they have to my domain.
My understanding is that if a company is concerned about copyright they have every right to ask you to take down the content of a site but in this case there is no site, they just want my domain.
How much right do they have to take my domain? As I said I am happy to work something out but am I at the mercy of their compensation offer or do I have the right to give them a price? If I don't like what they offer can I say no without being forced into court?
I don't want any trouble with these guys and I have no intention of this ending with lawyers but I would like to know if I have the right to state the asking price. I'd also like to know if I have the option of keeping my domain if they don't want to pay me fairly.
I appreciate any feedback.
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