Domain investors always look for a domain name that has some value to an end-user. And, they understand how domain names are so invaluable to businesses. If you own a company whether a single entity or in partnership with others. Losing a domain name on which your business is standing is a completely No-No. So, protecting your domain name whether you like it or not is very important. Here are some reasons which help you understand that Losing a Domain Name is a No-No for Businesses
Financials: When you register your company with another company for business to business transactions. You supply them with your email and all statutory information. All account-related updates such as invoices and payments are sent to your registered emails. The moment you lose your domain name all those emails either get bounced or are caught by the person who acquires your domain name. Hence, it’s important to safeguard your domain name.
Cost Factor: Losing a domain name comes at a greater cost. You need to acquire again your domain name which may come with a cost you may have not expected. Though you can defend a domain on the basis of trademarks (if you can establish this in the court of law) but, generally by that time, you will lose the traffic, emails, website downtime… Which may result in greater losses. Especially, if your business is based on accepting and delivering orders online. Just imagine what will happen if Amazon’s website experiences an outage? Various sources estimate it to be $66,240 per minute. How much it may cost you?
Time: You are going to lose a considerable amount of time when you lose your active domain name. Once you lose a domain name the time then it takes to take back the ownership again for the same domain name is not certain. Some businesses don’t realize that they have let inadvertently their domain name to expire. Though, the domain name doesn’t get deleted immediately. And, the registrar provides ample time to renew the domain name. Generally 80 days from the date of expiry. The problem comes when your IT manager or the person who is in control of your domain name leaves your company with all the credentials. And, you are not able to trace him. You know the domain is expired. Because of within 3-5 days of expiry – all domain-related services such as emails and websites experiences total shutdown. Y
The Business owner then needs to find the the person who owns the credential so he can login to account and renew the domain name. Or they need to contact the registrar directly. But, most of the registrars don’t allow such request at least immediately. Contacting your web hosting company is of no use. Because web hosting companies generally manage your website. And, not the domain name. This is the major mistake if you think the web hosting company is responsible for your domain name also. You may held them responsible if you give them the ownership. Otherwise it’s no use to blame them.
So, as a business owner you must make sure that you also owns the credentials used to login into a domain registrar account. Or, you need to make some alternative arrangement so that in the event of the person missing or disappearing suddenly – may not cause you the trouble to login into your account.
Generally, an email address is used to login into the domain registrar account. So, that email address should belong to company. And, not personal of the person registering domain on your behalf. Second, the phone number or the mobile number used for 2FA setup should also be owned by the company. When a owner has the control of the email and the phone number used for account login. Then, safeguarding the domain name becomes an easy task.