When you run a business, your assets include domain names; unlike tangible assets, domain names need special care.
Keeping track of your asset inventory should extend to domain names as well.
If you are in a business partnership, make sure that the assets are recorded and there is a clear method that defines their current registrar, the renewal processes and other related characteristics.
One of the worst mistakes business owners make, involves permitting an employee to register and / or manage corporate domain assets.
No matter how much you trust an employee based on their personality or performance, there is always a chance that they might be run over by the proverbial bus, or – worse still – decide one day to severe their employment and relationship.
If an employee assumes control of corporate domain assets due to an urgent circumstance, for example due to a rushed decision to acquire a domain name, ensure that control of these assets returns to you no more than a week later – if that much.
When domains can sell for thousands and millions of dollars, you can never be certain when you’ll need to manage a domain name that’s not under your control, but under that of a current or a former employee. So make sure you are the master of your domain.
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