Escrow is a service or account held by an independent, trusted third party in an escrow transaction process. You can use escrow for domain names, custom programming, website development, or other intellectual property matters. Whether you want to buy or sell domain names or websites, Greenberg & Lieberman, LLC’s team will protect you against deception, fraud, and irresponsibility.
How Does Domain Name Escrow Work?
If someone else owns the ideal domain you need for your business, you may decide to buy it from the owner. Yet, how do you ensure the transaction goes smoothly? This is where the escrow services step in, as they can securely handle money from transferring about anything, including domain names. The escrow service is a third party that holds the money until your new domain name is successfully transferred. The process works like this:
- You and the seller set up an escrow transaction
- You send the money via credit card, wire transfer, or another method to the escrow company
- Once the company confirms that it has the money, it announces the seller to transfer the domain name
- As soon as you confirm the domain ownership, the escrow party disburses the money to the seller, and you can rest easy knowing that the transaction was protected from fraud.
There are many benefits of using a domain name escrow, from secure payment to peace of mind, easy access to live customer support, the ability to send credit card information to a legal company, and protection against fraud. When you reach our team, you can rest assured that your finances are protected, and the domain transfer and the money transaction proceed smoothly. Moreover, with our help, you will eliminate any risk to both yourself and your business, ensuring that all terms and conditions are met as stated in the contract before the money is exchanged.
Why Do You Need to Hire a Lawyer?
When you are ready to buy a domain name and establish a business, you must meet with a lawyer to help you with the escrow transaction. The lawyer will review all the legal documents associated with the transaction, confirming that they fully comply with the relevant law and ensuring that both parties understand the agreement they are entering. Moreover, the lawyer can hold onto the assets and the money until the contract terms have been complied with and are safely in your hands.
If the lawyer is required to hold money or assets, they hold them in a trust account, labeled accounts, for that purpose. Here at Greenberg & Lieberman, LLC., our success relies on our ability to close your domain name deals. With one of the country’s most Internet law firms and domain names, we have the knowledge, skills, and resources that get your domain transfers and escrow process to the finish line.
We understand that every transaction is vital and every deal unique. This is why, regardless of the complexity and size of the escrow transaction, we provide the services, products, and skills you need to close your domain name deal, all from one portal. Contact us to learn more about our domain escrow fees and services.
How do I use the Law firm’s online portal to start a transaction?
First, the seller or buyer (“initiator”) sets up an account (if they do not have one already) and enters the basic terms of the agreement and if required upload the transaction documents to the portal.
Second, the other party(s) (“responder(s)” are notified that a transaction has been setup and are invited to log in, setup an account if he or she does not have one already and to review the terms stated by the initiator.
If the responders agree to the terms then he may click the accept button. If he does not then he may modify the terms after which the initiator is notified of the change in terms to which he may accept, thus moving the transaction forward or further modify.
Third, once the parties have all agreed to the terms of contract then the transaction may move forward. How the transaction moves forward will of course be based on the terms. Often the purchaser will transfer funds to G&L to hold pending the transfer of the domain name(s) to the purchaser. In other transactions, G&L will hold funds and domain names. Sometimes, G&L will hold funds pending a title search on the domain names(s) and the transaction may not move forward until ownership is confirmed. In other instances leans must be paid off and releases obtained prior to the completion of the transaction. There are of course an endless number of permutations of possible transaction terms. Let G&L assist you with crafting the right transaction for your situation.
Why Choose Greenberg & Lieberman, LLC.?
At Greenberg & Lieberman, LLC., we have been providing domain name escrow for many years, and we will continue to do so by securing domain name transactions. It is wise to engage in such transactions by first employing the services of knowledgeable intellectual property attorneys. You and the seller are more likely to take the domain transfers seriously when legal counsel is involved. From its conception, Greenberg & Lieberman, LLC., was built to handle intellectual property matters, and we aim to do it safely and securely.
Let us help you close your transaction. Through our many years in the intellectual property industry, we have seen almost every possible scenario you might encounter during the documentation, negotiation, and buying or selling process. Separately, our lawyers have represented clients in trademark infringement cases that involved domain names.
At Greenberg & Lieberman, LLC., our services range from providing strategic legal advice on your escrow options to ensuring that every entity infringing upon your intellectual property rights ceases. Furthermore, our team does not only engage in negotiations, but we also handle the analysis, research, drafting, legal advice, and escrow services, regardless if you are located in the United States, Canada, or anywhere else. Do not hesitate to contact us and learn more about our domain escrow services.
How Long Does it Last to Transfer a Domain Name?
The time depends significantly on how fast the registrar transfers the domain name from the seller to you. However, it takes a maximum of 7 days according to ICANN regulations.
When is The Domain Transferred to Me, the Buyer?
Once we inform the seller that your payment has been secured in our trust account, the seller is requested to begin the domain transfer process. You have to differentiate between a basic and premium or a payment over time transaction.
Do You Handle International Domain Name Transactions?
Yes, we do. Here at Greenberg & Lieberman, LLC., we accept domain name transactions involving all top-level domains.
I Am the Buyer. Can I Deposit Funds Using More than One Method?
Yes, as long as you fund your account with the necessary amount, you can use as many methods as you want.