Should I worry about similar domain name in foreign country?

[KatieMat]

I have a website with a domain name registered in the US. I was just notified that a company in a foreign country is in the process of purchasing the same domain name and keyword, but instead of being .com it will end with their country's extension. Should I be concerned about this? I have the opportunity to purchase the 3 similar domain names from that country, but does it really make sense for me to purchase these foreign domains?

[efflandt]

Unless you do international business, foreign domains may not be a big deal. But you could look at alternatives too like .org, .info, .biz, or if you do videos .tv. Often a default TLD for browser searches would be .com.