CYBERSQUATTING

The act of buying a domain name that reflects a known business, person or valid trade or service mark for the purpose of selling the name back to a legitimate potential owner for profit. The Anticybersquatting Consumer Protection Act of 1999 empowers the victim of a cybersquatter to file a lawsuit to obtain the domain name and sue for financial compensation. The registration, use or sale of a domain name with the intent to profit from another’s good name is considered cybersquatting. Also see the Uniform Domain Name Dispute Resolution Policy (also abbreviated as UDRP or Uniform Dispute Resolution Policy) that was adopted by ICANN, the international organization administering domain names. Using the UDRP results only in arbitration of the dispute, not litigation.