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Public College Domain Names

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nam6641

nam6641

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Is it fair game to own a college .com domain name? Could you use it as an informational website about that college or would you lose the domain?

example: Yale.com or YaleUniversity.com (this is a random example)
 
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I don't know if its legal but I have two and have never been bothered - both get a lot of type-in traffic.
 
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