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Paul – FS Concierge
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There are 2 issues to sort out in your mind.

The first is the legal issue – this is best saved for actual lawyers expert in the field.

The second is can you?

The answer is probably yes however so much depends on who owns the existing overseas domain and whether they would be willing to challenge you – now and into the future.

The biggest risk would be to build a business and brand name and then be challenged after all of the dollars and effort you put in to build the business.

The very short answer is that it is very risky.