WIPO cracks down on cybersquatters

The World Intellectual Property Organisation (WIPO) has taken steps towards an outright ban on cybersquatting in a report released late Friday night.

Cybersquatting is the practice of speculatively buying popular Web addresses based on brand names and then charging large sums when the brand owner wants to buy it back.

The WIPO is a UN organisation which acts as an international Internet watchdog. Last week's WIPO report is the first official ruling of it's kind in these areas.

The organisation responsible for the management of global domain names, Icann, received the report first. The WIPO has appointed Icann as the main enforcer of the cybersquatting ban.

Under the new framework, companies involved in a domain name dispute will be required to submit evidence that they have a legal right to the address based on the fact that they own the brand.