How can 2 people own a Domain Name

[Stewart]

Hi Guys

If i was to work with another company and we both owned 50% of the Domain name each. How would that work as only 1 person would have the account where the domain is hosted. Is there a way to make it so 2 people own the account and have the same permissions etc?

Thanks

 

[Gill]

A simple legal contract would be the best solution.

 

[diablo]

Hi Guys

If i was to work with another company and we both owned 50% of the Domain name each. How would that work as only 1 person would have the account where the domain is hosted. Is there a way to make it so 2 people own the account and have the same permissions etc?

Thanks

As Gill says, a simple legal contract would suffice. Or buy the name as a partnership / ltd company.

You can both have access to the account where the name is held so that's no an issue either.

 

[keys]

I sold a domain some years ago, and it ended up with a group of five people as the Registrant. Unless things have changed, you can simply include both names as the Registrant. I think that is the best solution, clear ownership and no cost.

 

[diablo]

I sold a domain some years ago, and it ended up with a group of five people as the Registrant. Unless things have changed, you can simply include both names as the Registrant. I think that is the best solution, clear ownership and no cost.

That would work to a point, but says nothing about who owns what percentage of the domain. A simple legal contract would spell that out. Needn't cost anything. Just a simple statement signed by both parties and witnessed by independent parties.

 

[Edwin]

If it's a very valuable domain, then set up a new company. The new company owns the domain. You and the other company you're partnering in each own half the shares of the new company that itself owns the domain name.

Or of course a legal agreement can work too.

 

[LCHappy]

Do you mean, is there any possible way so that two people need to action a transfer or change to the name? Not through Nominet, but you can through Mark Monitor etc that will have rules so that conditions are met before anything is changed. Paying big bucks though.

Alternative is a joint company, but if things go wrong and one person changes the settings, you'll need to battle it out in the courts and you will be talking mucho dinero.

 

[keys]

The beauty of joint Registrants is that both/all parties would need to approve any change of ownership. Otherwise, transfer would not comply with Nominet rules. It would be easy and relatively low cost to enforce reversal. A written agreement as well would be useful.

Any other arrangement, not able to remedy disagreement using DRS, would rely on litigation. Lawyers or Court action would escalate costs rapidly and could take a long time to resolve.

 

[Stewart]

I have a signed agreement between myself and the other company/person which clearly states that myself owns 50% of the domain name and the other company owns 50%. this is signed through a well know online signing site.

Im safe rite?

 

[keys]

Im safe rite?

How would we know? You need to ask a solicitor. If the project/ domain value doesn't justify that, then no need to worry. Otherwise, it may be too late.

 

[Stewart]

''If the project/ domain value doesn't justify that'' What do you mean by this.

''How would we know?'' Thats why im asking???

 

[keys]

Suggestions on a forum, are not an alternative to professional advice. The latter will in most cases incur fees, which may be significant.

Professionals such as accountants or lawyers etc, contributing to a discussion will invariably make it clear that they are not providing advice. Views here are given in good faith and intended to be helpful, but nothing more.

You say you have a signed agreement, which may protect your interests. Hopefully, you will never need it and you will not know if it is effective.

In some cases a DIY solution is adequate. This depends on circumstances and what is at stake. Providing you are confident in your arrangement, just get on with the project. I hope it goes well for you.