The term domain name means any alphanumeric designation which is registered with or assigned by any domain name registrar, domain name registry, or other domain name registration authority as part of an electronic address on the Internet. (15 USCS § 1127)
Colorado Listing Agreement with a Broker to Sell Internet Domain Site — Exclusive Listing is a legally binding contract between a domain owner and a broker, outlining the terms and conditions for the broker to exclusively represent and sell the domain on behalf of the owner. This agreement provides a detailed framework, ensuring a smooth transaction process while protecting the interests of both parties involved. The Colorado Listing Agreement with a Broker to Sell Internet Domain Site — Exclusive Listing covers several key aspects, including: 1. Exclusive Listing: This agreement establishes the broker's exclusive right to sell the internet domain site. It means that during the agreement's duration, the owner cannot engage another broker to sell the domain. 2. Listing Price and Terms: The agreement specifies the listing price for the domain and any specific terms related to the sale, such as minimum offer amount, required escrow services, or payment method preferences. 3. Broker's Commission: The agreement outlines the broker's commission percentage or fee structure, which is typically a percentage of the final sale price. It details when the commission becomes payable, usually upon the successful completion of the sale. 4. Marketing and Promotion: The agreement may include provisions related to the broker's marketing and promotion efforts. This may include online advertising, domain listing on specialized marketplaces, leveraging existing networks, and utilizing social media or search engine optimization (SEO) techniques to attract potential buyers. 5. Exclusivity Duration: The agreement specifies the duration of the exclusive listing, typically ranging from a few months to a year. During this period, the broker has sole representation rights, and the owner cannot engage in independent selling activities. 6. Cooperation and Disclosure: The agreement outlines the owner's responsibility to provide accurate and detailed information about the domain, including any relevant ownership history, traffic statistics, revenue, or other metrics that can influence the sale. The broker, in turn, commits to using the best efforts to present the domain to potential buyers accurately. 7. Termination and Grace Period: The agreement includes provisions for termination, defining the conditions under which either party can terminate the agreement before the agreed-upon duration. Additionally, it may include a grace period during which the broker remains entitled to a commission on any sale concluded within a specific period after the agreement's termination. Types of Colorado Listing Agreement with a Broker to Sell Internet Domain Site — Exclusive Listing: 1. Fixed-Term Exclusive Listing Agreement: This agreement establishes a fixed duration for the exclusive representation, typically for a specified number of months or years. Both parties agree to abide by the terms until the expiration date. 2. Open-Ended Exclusive Listing Agreement: This agreement does not have a fixed duration and remains in effect until either party terminates the agreement upon providing proper notice. It offers more flexibility but requires clear terms regarding the notice period for termination. 3. Performance-Based Exclusive Listing Agreement: This agreement outlines specific performance metrics or targets that the broker must meet during the exclusive representation. This type incentivizes the broker to actively pursue potential buyers and successfully close deals within a set time frame. In conclusion, the Colorado Listing Agreement with a Broker to Sell Internet Domain Site — Exclusive Listing is a crucial document that governs the relationship between a domain owner and a broker, ensuring a focused and dedicated effort to sell the internet domain site while protecting the interests of all parties involved.
