On the Internet, naming your start-up can be more arduous than financing it. This is because most Internet addresses, known as domain names, have been taken. In the com domain, the most desirable online real estate, almost every recognisable word has been claimed. Entrepreneurs often have no choice but to buy an address from the person who occupies it, sometimes paying tens of thousands of dollars in cash or shares (see chart on next page). Such deals have become a sort of tax on e-commerce.
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