Field Fisher Waterhouse advises on the most expensive domain name sale of 2010
07 June 2010
Field Fisher Waterhouse LLP has advised the owners of Slots.com
on the sale of the domain name for just over $5.5 million.
This is the most expensive reported domain name sale of the year
and one of the top 10 most expensive reported domain name sales of
all time, according to DN Journal which monitors domain name
sales.
The domain name was originally listed for sale through a live
online auction. The auction generated a huge amount of interest in
the gaming and domain name industries and although the highest bid
fell just short of the $6 million reserve price, a deal was struck
between the highest bidder, a leading gaming company, and the
owners shortly after the auction concluded.
Field Fisher Waterhouse technology law
group partner Paul Barton led on the
deal, assisted by associate Kwok Tang.
The team advised the owners on the legal and commercial aspects
of the auction as well as domain name transfer arrangements. The
firm also acted as escrow agent to facilitate the smooth completion
of the deal.
Paul Barton commented: “A domain name like Slots.com is a unique
asset and, like all unique assets, it is very difficult to put a
valuation on it. Although the auction did not directly result
in a sale, what it did do was create concrete evidence of
Slots.com’s market value. This then helped the owners achieve
a much higher price than what it would have achieved through other
sales channels.”
The firm advises companies on a range of domain name issues
including online auctions, acquisition and disposal of domain
names, and enforcement against unauthorised users of trade marks
and domain names on the internet.
McGregor Law Firm advised the sellers.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120.