Cybersquatting
Cybersquatting is a term used to describe an individual or company who intentionally purchases a domain and holds that domain with the sole intention of selling it to its rightful owner at a premium price. Commonly, when a domain is purchased by a cybersquatter, the website is inaccessible, mentions the site is under construction, or has information about how to buy the domain.
Victims of cybersquatting have the ability to sue under the Anticybersquatting Consumer Protection Act (ACPA), or can fight the name through the Internet Corporation of Assigned Names and Numbers (ICANN).
Also see: Cyber, Domain, Typosquatting