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Domain names should be registered like business names.
When I owned GO Faster (bicycle shop) I registered it with Companies House. That meant that no one else in the UK could use that name in relation with cycles and equipment. It costs more to register it world wide.
Maybe a similar system could be implemented with domains? I'm not sure - but I know that after paying for a name, building traffic, registering with search engines and the rest, I consider that domain 'my property'.
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