01—Abstract
Summary
Summary of the 8-K filed June 28, 2024. Cited figures are marked; the original filing is the authoritative source.
VeriSign, Inc. (VRSN) furnished this Current Report under Item 7.01 (Regulation FD Disclosure) to address letters released on June 26, 2024, by the American Economic Liberties Project and other advocacy organizations to the US Departments of Commerce and Justice and the White House Competition Council.
A press release accompanied the letters, which followed a two-month campaign by a paid subscription advocacy service and others. The campaign and letters assert that the 32-year-old Cooperative Agreement between the Department of Commerce and Verisign covering the .com top-level domain registry can be terminated by the Department on August 2, 2024, and that management of .com could then be transferred through a competitive bidding process. Verisign states this assertion is wrong.
It says that if the Department chooses to sunset the Cooperative Agreement, which Verisign does not seek, the .com registry will continue to be managed under the terms of Verisign's and ICANN's valid, enforceable Registry Agreement. Verisign argues the letters rest on a fundamental misunderstanding of the Cooperative Agreement's language, the nature of cooperative agreements, the course of dealing among the Department, Verisign and ICANN, ICANN's role as central coordinator of the Domain Name System, long-standing US policy, and the express terms of the ICANN/Verisign .com Registry Agreement. The company says the letters contain other inaccuracies it may address later, but that their main point about the Cooperative Agreement is simply incorrect.
02—Key points
Key Highlights
- Verisign filed this 8-K under Item 7.01 (Regulation FD Disclosure) in response to advocacy letters released June 26, 2024, to US government agencies.
- The advocacy letters claim the Cooperative Agreement with the Department of Commerce can be terminated on August 2, 2024, allowing .com management to be transferred via competitive bidding.
- Verisign states that it does not seek the Cooperative Agreement to be sunset and calls the termination claim wrong.
- Verisign says that even if the Department sunsets the Cooperative Agreement, .com will remain managed under the valid, enforceable Registry Agreement between Verisign and ICANN.
- The company says the campaign was run by a paid subscription advocacy service and others, following a two-month effort.
- Verisign characterizes the letters as misunderstanding the agreement's language, the nature of cooperative agreements, and long-standing US policy, and notes other inaccuracies it may address later.
03—Questions
Frequently Asked Questions
What did the advocacy letters claim about the .com registry?
The letters, released June 26, 2024, asserted that the Department of Commerce could terminate the 32-year-old Cooperative Agreement with Verisign on August 2, 2024, and that management of the .com registry could then be transferred after a competitive bidding process.
How does Verisign respond to the termination claim?
Verisign states the claim is wrong. It says that if the Department chooses to sunset the Cooperative Agreement, which Verisign does not seek, .com will continue to be managed under the terms of its Registry Agreement with ICANN.
Does Verisign want the Cooperative Agreement to end?
No. The filing explicitly states that Verisign does not seek the sunsetting of the Cooperative Agreement.
Why does Verisign say the .com registry would continue to be managed?
Verisign points to its valid, enforceable Registry Agreement with ICANN, which it says ensures the continued security, stability, and resiliency of the internet infrastructure under the global multistakeholder system of internet governance.
Did Verisign address every point in the advocacy letters?
Not yet. Verisign says the letters contain other falsehoods and inaccuracies that may be addressed at a later date, but states that the main point about the Cooperative Agreement is simply incorrect.
04—Continue