cyber squatter

A squatter is someone who ‘squats’ or takes up residence in a house they do not own. For example, an abandoned house may be occupied by a homeless person.
In internet terms, a domain name, such as ‘www.designprobe.com’ is the electronic equivalent to real estate or a street address. For example, you may consider ‘Park Avenue’ to be THE place to live in New York. Some people were willing to pay a million dollars or more because they believe having the right domain name, such as ‘drugs.com’ is the electronic equivalent to living on Park Avenue.
Similarly, a ‘cybersquatter’ is a person who buys an internet domain name in the hope of selling it to an organization who uses that name in an offline business. In Australia, the largest telecommunications carrier ‘Telstra’ went to court to enforce their exclusive right to the name ‘telstra’ as a domain name. The name had been registered in one online category by an individual who intended to trade under that name online.