Domain Names: Use 'Em or Lose 'Em

I have been getting increasingly frustrated by the number of vacant or abandoned spaces on the web that could be put to good use. Just last week I thought of a great idea for a website and also found the perfect domain name. Unfortunately, this had been registered in 2004 but still hadn't had a single page uploaded.

So, here's my shout-out to ICANN to regulate the following:

Let's give domain name purchasers a window of opportunity to do something useful with their site. The first instance of a domain name should only be registerable for a one year period. This aught to be more than sufficient to make use of it. If, after that period, you've done sod-all except hold on to it in the hope that someone will buy it off you; well, you forfeit it. You also can't re-register it.

There are so many people with so many good ideas, but they're being stifled by greedy name-huggers.