In 1995 good domain names could be had for a song. All one needed was a dictionary and a TelNet connection to the InterNIC domain name database registry. Names were lying around like gold in Sutter's Creek, fully exposed for all the world to see. Today, according to NetNames, over 15,719,462 names have been registered. All the words in the English language dictionary have been registered.
Names are now as valuable as trademarks.
The legal world has recognized that names are like trademarks, accruing increased value over time. And the law is changing as domain names move closer to trademarks in their protection and use. Good domain names command 7-figure prices. All in five short years. Recent sales have seen rapid appreciation in domain name values.