ICANN is an acronym that stands for the Internet Corporation for Assigned Names and Numbers. ICANN is a not-for-profit public-benefit corporation with participants from all over the world dedicated to keeping the Internet secure, stable and interoperable.
ICANN’s primary role involves coordinating and ensuring the smooth operation of the Internet’s unique identifier systems, including domain names. They develop policies for DNS (Domain Name System) management, IP address space allocation, and protocol identifier assignment. They also manage the root zone management in the DNS.
From a domain investor’s perspective, ICANN plays a crucial role in the domain name industry as they oversee the global coordination of the Domain Name System, which includes the development of policies for domain name registration and dispute resolution. Understanding ICANN’s policies and procedures can be important for domain investing, particularly if you are dealing with high-value domains or international domain names.
One of their key initiatives that impact domain investors is the Uniform Domain-Name Dispute-Resolution Policy (UDRP), a process established by ICANN for the resolution of disputes regarding the registration of internet domain names. When a dispute is filed, the UDRP outlines the legal steps and procedures for deciding who has the right to the domain.