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Pressured from ICANN and competing domain registrars, VeriSign suspended the Site Finder service shortly after it was introduced. The company sued ICANN months later, arguing that the agency's actions, including the decision on Site Finder, impeded VeriSign's efforts to offer moneymaking services. ICANN later countersued.
The proposed settlement, which ICANN's board unanimously agreed Monday to send to the Internet community for public comment, revises the definition of "registry service" so that Site Finder is clearly covered and thus requires prior ICANN approval.
It also establishes a formal review process for new services, such as Site Finder, in which ICANN would have 90 days to address any security , stability and competitive concerns.
VeriSign has in the past complained that ICANN takes too long to make decisions and is often inconsistent when it does.