Illinois HB1416 establishes a 5-year grace period for repurchasing or renewing a leased domain name after ending ownership or lease.
Illinois HB1416 amends the Consumer Fraud and Deceptive Business Practices Act by adding a new section that prohibits the sale or lease of an Internet domain name to another person for 5 years after the original buyer or lessee ends their ownership or lease. During this grace period, the original buyer or lessee can repurchase or renew the lease for the domain name at the original cost. Violating these provisions constitutes an unlawful practice under the Act.
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