What is cybersquatting?
Cybersquatting refers to the illegal registration or use of domain names. Cybersquatting can come in a few different flavors, but its main purpose is to steal or misspell a domain name in order to benefit from a surge in website visits that would otherwise not be possible. Trademark or copyright owners can neglect to register their domain names and by forgetting this important update, Cybersquatters can easily steal domain names. Cybersquatting also includes advertisers mimicking domain names that resemble popular, high-traffic websites. Cybersquatting is one of several types of cybercrime.
Cybersquatting is also known as domain squatting.
The Internet Corporation for Assigned Names and Numbers (ICANN) is a non-profit organization tasked with overseeing the registration of domain names. As cybersquatting complaints escalate around the world, ICANN has put in place basic acceptance standards so domain name issuance involves much more research. ICANN has also put in place a firm foundation for domain name restoration to avoid cases of trademark registration by trademark owners. ICANN urges trademark owners to renew their registrations annually and report abuse to the agency as soon as they become aware that they have failed to re-register a domain.