What is cybersquatting?
Cybersquatting means registering someone else's personal or business name as your domain name. So, why would someone register other's business or personal name? The answer is very simple - money! There were many cases that names of some companies were bought and later offered to these companies for a profit.
Should I be worried about cybersquatting when I'm buying domain name?
If you are buying domain names in order to use them for running legitimate business you do not need to worry. But if you are buying domain names for selling them later you need to consult your lawyer about the legality.
Is cybersquatting illegal?
Cybersquatting is against US federal law; the federal Anti-Cybersquatting Consumer Protection Act is the law that prohibits cybersquatting.