Cyber Squatting
Cybersquatting is the act of registering a popular Internet address usually a company name with the intent of selling it to its rightful owner. Cybersquatting is now being compared to online extortion. A Senator from the USA, has introduced to Congress the Anti-Cybersquatting Consumer Protection Act. This bill, if enacted, would make cybersquatting illegal. Violators could be charged up to $300,000.
The World Intellectual Property Organization (WIPO) has outlined anti-cybersquatting tactics, which have been endorsed by ICANN (Ironically enough, someone recently registered www.wipo.com in order to sell it back to WIPO for several thousand dollars). Even though legislation has not been enacted, almost all cybersquatting court-case decisions are against cybersquatters.
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