The current process for setting up a top level domain registry
is to post a $100k bond, show technical due diligence, buy
the Network Solutions list of already registered domains, and
email or snail mail a FUD letter to each and every technical
and administrative contact that they better register their domain
in TDL  .??? (I got one for .cc) or else their competitors will
register it and say bad things about them.  
Greg
http://www.nytimes.com/library/tech/99/06/biztech/articles/07ican.html
(registration required- article excerpted)
Critics See Internet Board Overstepping
          Its Authority
          By JERI CLAUSING  
                 ASHINGTON -- They were mysteriously appointed, they meet
                 behind closed doors and they have questionable public
          accountability. Yet members of the interim board of the Internet's new
          oversight body are beginning to make decisions and shape policy that
          could ultimately affect everyone who uses the global network. 
          To finance the $5.9 million
          annual budget of the oversight
          body, the Internet Corporation
          for Assigned Names and
          Numbers, or Icann, this
          temporary board has voted to
          levy a $1 a year tax on the more
          than four million Internet
          addresses, or domain names,
          that end in .com, .net and .org.
          The board is also planning to
          impose tens of thousands of
          dollars in licensing and other
          fees on companies that want to get into the business of dispensing
          Internet addresses. Recently, the board endorsed controversial
          recommendations for establishing a new global framework for resolving
          disputes over who can and cannot use certain words in their Internet
          addresses. 
          Esther Dyson, the chairwoman of the interim board, which was set up
          last year, says the group is carrying out its government-mandated charge
          to break up the current monopoly in Internet name registration and to
          move Internet governance to the private sector. 
          But critics say the board is overstepping its authority and ignoring another
          mandate -- to create a transparent, bottom-up organization. Instead, they
          say, the board is working behind the scenes with powerful international
          corporate and government interests to create a top-down hierarchy that
          flies in the face of the free-wheeling, consensus-based spirit that built the
          Internet. 
          Such sentiments are but the latest chapter in yearslong sniping fueled by
          international jealousies and myriad conspiracy theories. What is different
          now, some observers say, is that the Internet, which is built on a
          cooperative technology for routing data around the globe is in less stable
          hands -- increasing the risk that angry factions will in effect secede from
          the network, damaging its integrity by splitting it into several smaller,
          disconnected networks. 
          Although such a split is considered unlikely, anxiety over who is running
          the show could curb investments in the rapidly growing electronic
          commerce industry. 
          "The risks are that Icann has a little bit of authority but very little
          legitimacy," said Bill Whyman, an Internet analyst for the Legg Mason
          investment company in Washington. "This is an awkward
          consensus-building process. If it pushes too far and causes itself to lose
          support among key constituencies, Icann itself can be undercut. Then you
          have a very bad situation with no one in control. Then you have a very
          bad situation for e-commerce." 
          Icann was created last year by one of the
          Internet's founding fathers, Jon Postel, as the
          Clinton administration moved to complete the
          privatization of the Internet. The U.S. government,
          which financed the creation of the Internet over
          several decades, had begun privatizing the
          network in 1995 by turning over responsibility for
          domain name registration -- that is, the assigning of
          Internet addresses -- to a Virginia-based
          company, Network Solutions Inc. 
          But as Network Solutions' lucrative
          government-sanctioned monopoly became
          increasingly controversial, the administration made
          it a top priority to introduce competition into the
          registration business -- while also transferring
          oversight of the Internet to a private international
          body. While a Commerce Department report last
          June mapped out the principles and goals for such
          a body, there were very few specifics spelled out. 
          Icann was set up as a nonprofit organization by Postel, a computer
          scientist at the University of Southern California who for years
          administered the address numbering system behind Internet domain
          names. But he died unexpectedly shortly after the interim board was
          named last fall, turning unanswered questions about how he selected the
          members into something of an Internet mystery. 
          Whatever its origins, the interim board now has nine members -- plus the
          corporation's temporary president, Michael Roberts. In addition to Ms.
          Dyson, a well-known Internet analyst, publisher and entrepreneur, the
          board includes telecommunications executives and academics from the
          United States, Europe, Asia, Australia and Latin America. 
          Though the interim board had been expected to set up the procedures for
          building up a broad-based Icann membership that might elect a full-time
          board, the interim group has itself become a policy-making body.