VeriSign granted dot-com til 2012

The US government has approved a much-debated deal which grants internet domain name registrar VeriSign control over the dot-com domain until 2012.

The US Department of Commerce has retained some management of VeriSign and has the final say-so over any price rises to renew dot-com web addresses.

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Price rises are limited to seven per cent in any year with six months' notice required for any planned increase under the new deal.

The National Telecommunications and Information Administration (NTIA), an agency of the US Department of Commerce, said in a statement the contract would only be renewed at the end of its term if "the approval will serve the public interest in the continued security and stability of the internet domain name system".

The decision follows a lawsuit settlement reached back in March, when the Internet Corporation for Assigned Names and Numbers (Icann), which oversees the net's address infrastructure, gave VeriSign the right to raise fees on dot-com domains by seven per cent annually.

While Icann makes most decisions about domains on its own, the March settlement required approval by the US Department of Commerce before it became final.

The NTIA has been scrutinising the proposed agreement and reviewing comments from industry bodies and experts since March.