Cyber Squatting

The practice of purchasing a domain name that contains a well-known
trademark or commercial name (for example, indiatimes.com) is called
Cyber squatting. The cyber squatter then offers to sell the domain to
the person or company who owns a trademark contained within the name at
an inflated price. The term is derived from "squatting" which is the
act of occupying an abandoned or unoccupied space that the squatter
does not own, rent or otherwise have permission to use. Cyber squatting
however is a bit different in that the domain names that are being
"squatted" are (sometimes but not always) being paid for through the
registration process by the cyber squatters. Cyber squatters usually
ask for prices far greater than that at which they purchased it. Some
cyber squatters put up derogatory remarks about the person or company
the domain is meant to represent in an effort to encourage the subject
to buy the domain from them This practice is being contested in various
legal battles and for the most part, the company wins, not the cyber
squatter.