In the mid-1990s, domain names were seen primarily as addresses in cyberspace—much like telephone numbers or postal addresses to which they were analogized—rather than as assets of value in themselves. It quickly became apparent, however, that domain names could acquire a separate and independent value created by their active participation in the cyber marketplace.
In their functional role domain names are simply a string of alpha-numeric characters that connect visitors to destinations in cyberspace. By simply typing the domain name into the browser search field users effect completion of the link. There is nothing unlawful in monetizing domain names or offering them for sale as long as they are not found to be infringing third-party rights by cybersquatting on virtual space reserved to trademark owners.
