Internet overseeing body ICANN has released a revised contract for all dotcoms which it hopes will finally end a huge legal fight at the heart of the Internet.

Significant changes have been made to the deal - which will hand control of all dotcom domains to current owner VeriSign until 2012 - following widespread criticism from the Internet industry.

The new agreement - that was hailed back in October as bringing in a “new era” for the Internet by ICANN head Paul Twomey - contains several important alterations.

They are:Removal of a transaction fee that would have been charged to all companies selling a dotcom domain, A new direct contribution that VeriSign pays to ICANN direct, Some limits on VeriSign’s price-rising powers, Reduced scope for VeriSign to sell personalised data to third-parties, Marginally increased control over VeriSign’s ability to introduce changes to the existing dotcom business model

Source: The Register