The Domain, an online trade mag that covers naming rights, reports today that 153,000 domain names go up for auction in an office at 1717 Main Street on November 9. According to the auction website, though, it ain?t cheap to get in on the fun: You need to put $500,000 in escrow just to participate in the bidding, and the receiver has set the min bid at $4.3 million.
We?re not sure what these names are. But we do know to whom they belong: Jeff Baron. And according to the collected writings of The Internet, Baron didn?t do anything wrong ? except, in the end, partner up with someone who promised him the moon and delivered him to a Dallas bankruptcy courtroom.
At the Earle Cabell Federal Building and Courthouse there?s a stack of legal docs as high as, well, the Earle Cabell Federal Building and Courthouse. They date back to 2009, and document the dispute between Baron and a man named Munish Krishan, which apparently bankrupted Baron. Most of the docs are available for free, at LawInjustice.com, or at the website for the Internet Corporation For Assigned Names and Numbers. More than one person has written that Baron was railroaded by would-be partners and bankruptcy judges and receivers charged with settling his debts. No doubt the answer lies in those docs.
This much, though, is certain: Some time around 1999 the J.J. Pearce High School grad, then working for Mary Kay, came up with a way to generate and then register domain names, among them, says here, Rewards.com, Lite.com, Icy.com and phonecards.com. He amassed more than a million, and made a fortune for his efforts. He started a company called Ondova. And then he met a man who promised to turn it into Google. And then they went to court. And then Baron lost everything. Including those domain names available next month.
But according to court docs filed yesterday, Baron and his attorney, Houston-based Stephen Cochell, are insisting that?s ridiculously low-ball and are asking the court to intervene. Far as they?re concerned, ?It appears that the value of the domain name portfolio is a minimum ?floor? value of $40,000,000 to $120,000,000,? according to Baron?s emergency motion, in which he?s asking for two more months. ?Baron has a beneficial interest in the domain names, and deserves a fair opportunity for him, his lawyer and expert to value the property,? says yesterday?s filing.
Calls are out. In the meantime, we?ve got a lot of reading to do.
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