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As to generics, they're just hoping to capture traffic.

You're just counting on people typing in generic names instead of using a search engine like Google."Malutta said domainers like Goldberger and Fischer are not "gaming the system" which in his opinion would mean registering domain names and then cybersquatting -- driving revenue off somebody else's trademarked name like Coca-Cola.

Over the years, Goldberger and Fischer have sharpened their formula for acquiring domain names and developing the sites using a fairly simple template, relying on research, savvy and plenty of instinct."You either know it or don't by hearing the name," Fischer says.

They look for names that hit the "sweet spot" -- short words that describe a high-value product or services related to it.

They also troll lists of names with domain registrations set to expire, enabling them to get a jump on buying it. Five years ago, the duo could get a good name for ,000.

They don't bother with dot-nets or the others."Dot-com is king," Goldberger said. Now the minimum is more like 0,000 -- as the auction proved.

Word got out that Goldberger knew something about the thorny legal issues involving Internet domain names and people began approaching him for advice.

Goldberger's fascination with the burgeoning industry was sealed."I was an entrepreneur strapped into this suit-and-tie job," Goldberger said.

Goldberger began collaborating with Fischer in 2001, building their portfolio of domain names.At the moment, Fischer, Goldberger and Eli are sitting on their names.They've recently turned down million-dollar offers for and As technology evolves, maybe direct navigation will fall off the charts and there goes your property."Copyright 2007 The Associated Press. This material may not be published, broadcast, rewritten, or redistributed. FIND MORE STORIES IN: Manhattan | Internet domain | Ari | By Bebeto Matthews, AP | Internet business "You got it," a smiling Fischer tells Eli. These are boom times in an estimated billion industry that involves the buying and selling of domain names.Bob Parsons, CEO and founder of domain registration company Go Daddy.com, says this type of business is fairly straightforward."They make their money in two ways," Parsons said."One way is through the traffic they get and the other is the appreciation of the name."Parson didn't think there was anything wrong with the practice as long as those involved weren't using names trademarked by others."Domain names are becoming 21st century real estate," Parsons said.

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