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I haven't read the opinion word for word, but the gist of it is that VeriSign and ICANN engaged in a bit of cozy bargaining that resulted in VeriSign securing a virtual-perpetual lock on the .Com registry with locked in price increases.
In other words, if there was actual competition, instead of the cozy relationship between ICANN and VeriSign, there would be actual bidding for control of the .Com/.Net registries which, in all probability, have resulted in the lowering of costs - instead of the lock-step increases in fees.
To those who have registered more than a few .Com domains in the past this lawsuit may have 3 benefits. First, shattering the lock that VeriSign has on .Com. Second, opening the operation of the registry to competition which should drive down costs. Third, the real possibility that VeriSign would have to pay back millions of dollars of excessive charges.
Here's the pdf of the Court's decision [ca9.uscourts.gov].
Personally, I think the price of .com's should be about $100/ea. Lower .com prices just make it more problematic for legit online businesses to avoid getting scalped <in the domain aftermarket>, it's bad for everyone.
[edited by: Webwork at 1:39 pm (utc) on June 8, 2009]
I agree that prices are low ( although if the people at verisign can make money after all overheads at what $7.00 to $8.00 Us then that is actually what it' s worth ) ..to unlock domains for general use it's far more relevant to insist that Icaan stop "kiting" and "tasting" by "registrars" ..£50,000.00 downpayment to become a "registrar" ..to verisign and providing you "churn" n "drop" n "pick up" n "churn" again them within 3 working days means you never have to actually pay anything ( and if you are a "registrar" you can keep on doing this with the same names for ever ) but you can reap the adsense from parking ..
That is googles fault ..and as long as vince cern is at google and also effectively running the ICAAN ..then that kind of corrupt practice is going to continue to lock many dot coms away from those who could put them to constructive use .
I'd pay more per dot com ..but not if verisign are involved in fixing the price ..and I'd like the ICAAN cleansed of all those like Mr Cern whose interests are those of his employers not of the internet in general