Domain Investor Nat Cohen’s company Telepathy, Inc, has been hit with a UDRP on the domain name Boon.com which according to DomainTools.com it has owned since at least 2001.
The UDRP was filed by Wirecard AG, a “global financial services and technology company headquartered in Aschheim, Munich, Germany.
Its internet payment service competes with PayPal and Western Union.
Wirecard AG is listed on the Frankfurt Securities Exchange WDI and ranks among the 30 largest German technology companies below the DAX.”
The company announced a “boom” product in March of 2015
“”Wirecard AG is redefining smartphone payments: Wirecard will showcase an HCE app for mobile payment at the Mobile World Congress in Barcelona, Spain. The application is based on the new Wirecard payment brand, boon, which will be launched on the market in summer 2015.””
So basically the company which just announced the its new Boon product last month 14 years after Telepathy registered the domain.
The Boon product won’t even launch until this summer.
The company had €481.74 million in revenue in 2013 and you can see the stock chart here.
It looks like an attempted theft of a domain name by a company who could well afford to buy the domain
We look forward to a finding of Reverse Domain Name Hijacking.
That’s ridiculous, no way they are gonna get the name, it’s a new case for Rick’s Hall of Shame …
If it was their lawyer that suggested Wirecard AG to start a UDRP, maybe he should change job … and they should change lawyer … lol 😀
is this the same wirecard that had problems with money transfers to supposedly isis affiliated groups or this is a different one. inquiring minds want to know.
They were foolish to file this rathrather than just try to buy-once they lose this dispute the price will be triple.Hopefully he costs this German company and their pension fund millions.
rather that should read above
They are looking for a gimmie put from three UDRP Kangaroos.
Why not ?
They definitely failed on the #1 rule in negotiating and/or combat.
” know your opponent” .
My bet is on Nat.
They will find out down the road, it would have been cheaper to buy the domain than steal it.
I’m going to follow this story closely. So far it looks like a public shake down in broad daylight. I feel bad for the company that is getting mugged. At least they will get their attorneys fees paid for.
There should be a penalty if these companies loose there case and some money awarded to the owner for the waste of there time and the stress they cause to these domain owners so it would make these people who file these cases think twice before doing it . There needs to be something done maybe a pannel who sees the application first and approves it first before it aloud to be lodged where they can reject it or approve it before it go this far it is just crazy
Terrible…Nat & Telepathy will be well able for them.
I would answer the UDRP in a shoddy way. Say a few lines like “we disagree, this is disgrace. A win of this UDRP will lead to a lawsuit of epic proportions. UDRP Panelists… All we have to say: We’ll let you make the right decision before maknig yourselves look bad.”
It is a win/win. Either:
a.) The UDRP panelists find in Telepathy’s favor. Minimal effort on their part.
b.) The UDRP goes against Telepathy and then he can bring in the big guns and sue them for a lot more than the domain name would have cost upfront.
Of course I’m being a little bit fecious when I say this. But it is a possible tactic.
It is clear as glass that Boon.com won’t transfer ownership in this case. Thus, why not have some fun with it. I doubt UDRP panelists would be stupid enough in this case to hand the domain name over!!
Shane
There will be UDRP reform in the next few years
Any change your asking for the trademark holders are asking for, a loser pays model
Great for generic domain holder but remember the complainant wins 85% + of the time
85% … for the generic domain cases?
Domo
I’m saying is that any change to the UDRP will be universal and overall the complainant win 85% of the cases so TM holders will be more than happy to move to a loser pays situation as I would also but there are a lot of domain holders that will be paying up
I see, at the same time people with strong generic-highly defendable domains might love this “loser pays’ feature.
(Hey Nat!)
If NAT does not win he can have BOONSUCKS free
see paypalsucks