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Like already mentioned...it won't harm you if you buy it and in some instance might help you as well, as long as you utilize it in a proper and genuine manner. Just keep up with the best practices. And, I am still waiting for someone to answer this part of my original reply: "BTW, I am not sure about whether there is some kind of penalty that exists if you buy domain names that closely resemble your website URL and then permanently re-direct it to your Live/ Main URL/ Website. Can someone answer this?? After all your intention is not to spam but to stop others from misusing an URL that closely resembles your brand."