Once you your site is up doing business you forget about your domain name. You only worry about your site like how to improve it for more business. The only time when you come to know about your domain is when it got expired. You may have ignored all the mails sent by your registrar company saying that your domain is about to expire. One year is a long term, and we cannot always remember that our domain is about to expire.
As you think about your website you should also think about your domain name. As once you lost it you stand no where.
Now let me tell you what is drop catching, Drop catching is a legal process to acquire expired domains. There are people who are always in a hunt of expired domain, once its expired they acquired it within seconds. And they also sell them for higher profits. So it is wise to re activate your domain name subscription before it gets expired.
So when does a domain really called an expired domain? As per rules of ICANN (Internet Corporation for Assigned Names and Numbers) it gives domain registrars 45 days after the expiration date to notify the website owner that their domain name is going to be removed from their registry. After the 45 days, you still get 30-day grace period if you fail to re activate your domain it will get expired, and in no time it will get acquired by someone else.
Quick Tip: ICANN is the not for profit organization responsible for managing the Internets domain name system, including IP address space assignments.

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Drop catching through Namejet is now so abundantly saturated it is becoming difficult to even sell your domains back for most pre-release domain acquisitions currently!. I strongly believe sniping pending deletes with a personal drop catching software is the most affordable approach (I have had pretty good catches with snatcher.org’s software).