Definition - What does Cybersquatting mean?
Cybersquatting refers to illegal domain name registration or use. Cybersquatting can have a few different variations, but its primary purpose is to steal or misspell a domain name in order to profit from an increase in website visits, which otherwise would not be possible. Trademark or copyright holders may neglect to reregister their domain names, and by forgetting this important update, cybersquatters can easily steal domain names. Cybersquatting also includes advertisers who mimic domain names that are similar to popular, highly trafficked websites. Cybersquatting is one of several types of cybercrimes.
Cybersquatting is also known as domain squatting.
Techopedia explains Cybersquatting
The Internet Corporation for Assigned Names and Numbers (ICANN) is a nonprofit organization charged with overseeing domain name registration. As cybersquatting complaints throttle up worldwide, ICANN has implemented thorough standards of acceptance such that domain name assigning is done with much more scrutiny. ICANN has also put solid requirements for domain name recovery in place for instances of trademark registration lapses by trademark owners. ICANN urges trademark owners to renew their registrations yearly and to report misuse to the agency as soon they become aware that they've neglected to reregister a domain.