Domain Name Option and Purchase Agreement

Summary

This template is a domain name option and purchase agreement for use by a domain name owner that wishes to license (or lease) a domain name and associated intellectual property rights. It includes an exclusive option to purchase the domain name and associated rights. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template is often used in conjunction with a domain name escrow agreement where a third party, acting as the escrow agent, receives the purchase price from the buyer and the domain name from the seller, and then transfers each to the other party. Two separate forms are necessary because the purchase agreement is between just the buyer and seller and the escrow agreement is between the escrow agent, the buyer, and the seller. For an overview of domain names generally, see Computer Contracts § 11A.05. For more information on domain name transfers, see Registration, Renewal, and Transfer of Domain Names — Domain Name Transfer. For a sample escrow agreement, see Domain Name Escrow Agreement.