Robert Cringely has some ideas from David Harrison:
The Inet DNS Filter would operate for a transition period. During this time, any reputable domain name holder owning an Internet domain could ask for free registration of those same domains on the Inet system. Their site would be checked to see that it complies with Inet’s Terms and Conditions, and if so, they get it. After an initial year, they must re-register for a 5-year period. This costs a nominal fee for private individuals, and a slightly larger fee for commercial entities. When you register a trademark as a domain on Inet, you automatically get all of the global alternatives in one go. So when Wal-Mart registers walmart.com, they’d get all the similar domains automatically. But no one can block critique sites that include a trademark name within them, so if Wal-Mart had upset a customer, and that customer set up www.walmartstinks.com, Wal-Mart could not block it under the rules. Domain squatting would not be permitted, either.
Domain dispute resolution would be rapid: one week for evidence presentation, 24 hours to decide, and 24 hours for appeals. At which point the Inet DNS system would block the loser. Domain transfers would be fast and low cost. All domain activity would operate through Inet, not be farmed out to resellers, since the system is too important, and has proved to be difficult to police on the Internet. Inet domain holders would be expected to maintain control over the content of their users on sites with Inet domain registrations. Repeated failures to rapidly do so would result in the temporary or permanent loss of their Inet domain.