Today comes news that another public company, Buckingham Exploration Inc. (OTCBB: BUKX) announced today that it has purchased the domain name Buckingham.com for just $10,000.
The seller of the domain Mr. Robin Relph, however is an insider of the company, and is not only a director but chairman of the board.
“””The company also announces that it has acquired from Mr. Relph all of his rights, title and interest in and to the domain name “Buckingham.com” including all intellectual property rights and rights related to website and internet traffic associated with the domain name, for $10,000. ”
“Mr. Relph’s ownership of the domain name predates the incorporation of the company and has been obtained on very favorable terms to the company and at a large discount to its prevailing value.”
There are over 48,000,000 references in Google to the term Buckingham, a ton of companies and a pretty famous landmark sitting in London that goes by the name of Buckingham Palace.
Of course the domain was a steal for the company, palace not included.