If you own a trademark and find someone who is holding it hostage as domain name until you pay the large sum for it you may be the victim of cybersquatting.
What Is Cybersquatting?
Cybersquatting is selling, registering, or using domain name with intent of profiting from someone else’s trademark. It is also referred to the practice of buying up domain names, which use the name of existing business with the intention to sell the names for profit to those businesses.
Cybersquatters are the people who got there first on given domain nameand hold its title by buying it. However, what separates cybersquatter from innocuous domain owner is that they donâ€™t have any intention of using the domain for legit purposes.Download Removal Toolto remove Cybersquatting
The important two categories of cybersquatters are: First are those who buy domains to hold them for ransom in a hope that more legitimate prospective owners will buy it. The pressure to buy such websites can increase if it is used in ways which will embarrass legitimate owner.
Few years ago governing body of Internet domains released new field of domains that include .xxx. This set off a flood of cybersquatting and corresponding wave of legit purchases in an effort to avoid what happened to the University of Colorado, that left red faced when the colorado.xxx became porn site, that prompt lots of other major universities to buy this domain.
The other kind of cybersquatting is profiting directly from the otherâ€™s identity by using name or image of the corporations or well-known individuals to mislead consumers in giving money.
The trouble with cybersquatting is that there is a gray area between legal and illegal.
For obvious reasons cybersquatting is the biggest threat to corporations than individual users. Individuals who own their own companies or got their own personal websites they must have their own domains affiliated with their names or ones that they wish to use in future, and they should be diligent about renewing it before they expire, before it fall into the wrong hands.
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