VRSNVeriSign Inc.

VeriSign’s moat is anchored by its control of the .com and .net registries, among the most critical pieces of internet infrastructure, which creates a quasi-monopolistic position with high barriers to entry, recurring renewals, and durable pricing power. Switching the registry operator would be technically complex, operationally risky, and politically constrained, while the business benefits from exceptional efficient scale. The score is a bit below a textbook wide-moat mark because true network effects are limited and the franchise depends on long-dated contracts and regulatory approval, not permanent ownership. Even so, VeriSign remains one of the most defensible infrastructure businesses in public markets. The moat trend is stable, with renewal risk offset by entrenched indispensability.