Cybersquatting refers registering domain names of existing companies or businesses with the intention of selling it at a later date to those companies and making huge profits from it. The practice of cybersquatting is illegal and a crime.
It's history comes from a time when businesses were not aware of the commercial importance of having an internet presence. People went on to register the names of these businesses as their domain names and when the businesses finally decide to set up an internet presence, these people then sold these domain names at exorbitant prices to these companies.
The Anticybersquatting consumer protection act, protects victims of cybersquatting by authorizing a trademark owner to sue a cybersquatter in a federal court to obtain his domain name.
<u>Cybersquatting</u> is the dubious practice of registering a domain name and then trying to sell the name for big bucks to the person, company, or organization most likely to want it.
Explanation:
Cybersquatting means to make a website/register a domain name and then sell it to someone who would pay a good amount for it. For example, a person makes a website on some big company's name and then sells it to the company in return for a big amount of money. This dubious act is called cybersquatting.
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