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I'm freshly out of college
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I guess there are some things a college education does not teach...like check for the .com before you even proceed with your business name
Seriously though, just use your .net domain and you'll be fine...lots of places use .net and wait the time when this squatter's time lapses. If he renews then forget about it and just do what you gotta do with your business. Obviously he's full of shit that he has "multiple offers"...wait it out and see what happens at year end.