 Last year, the WIPO Arbitration and Mediation Centre had a very strong performance once again, particularly in respect of the administration of internet domain name disputes. Over 2,500 such disputes were filed with the organisation and with the centre representing over 6,000 individual domain names. One of the things that's happening in this space, of course, is that the context in which these disputes take place is rapidly evolving. It's rapidly evolving because the Internet Corporation for Assigned Names and Numbers, ICANN, which is the body responsible for the domain name system and for the technical management of the domain name system, has taken the decision to expand, potentially infinitely, the top level domain name space. So they are in the process of introducing or authorising the introduction of new generic top level domains. That is what you find to the right of the dot, such as COM, is to the right of the dot. So this space is expanding very, very significantly. And they have already approved some 160 new top level domains. What is the impact of this? By the way, that decision to alter the domain name system in this way and to modify its operation is a decision which is entirely within ICANN's responsibility and WIPO as an organisation has nothing to say about that and it's taken presumably for navigational purposes, that it is to improve the navigational possibilities of the domain name system on the Internet. But what we are concerned with is the impact of those decisions on branding, on the capacity of consumers to identify with reliability, dependability, the true owners of products and services that are sold over the Internet. So we see with the expansion of the generic top level domain name space that the opportunity for misuse of trademarks has increased. So while there was a limited number of generic top level domains, the opportunity to register trademarks without the consent of the trademark owner as a second level domain that is to the left of the dot such as brand.com, the opportunity was limited to that number of domains. When you increase the generic top level domain name space by the addition of potentially hundreds or thousands of new generic top level domains, the opportunity for misuse is increased significantly and this will have a major impact, a major impact on trademark owners and on their capacity to monitor the misuse of trademarks. And they will have to form their own views about what strategy is to adopt about this. Are they going to register their trademarks in every single new top level domain which is potentially a very significant burden? Are they going to attack every single misuse that occurs in all of those domains? These are significant questions, the answer to which we do not know at this stage. But we are watching very, very closely this space and trying to ensure that the branding system that is legally protected through the trademark system remains a reliable instrument for consumers to associate products and services with particular origins.