There has been a 313pc increase in the number of disputes over the new generation of web addresses in the last eight months

The release of hundreds of new web address endings over the last eight months has contributed to a 313pc increase in the number of “cyber-squatting” disputes, it has emerged.

The internet industry regulator ICANN (The Internet Corporation for Assigned Names and Numbers) is currently in the process of introducing more than a thousand new web address endings , known as generic top-level domains.

These will allow businesses and individuals to create web addresses using alternatives to “.com”, “.co.uk”, and “.org”. They can already choose from a wide range of suffixes or “domains” including “.vodka”, “.london”, and “.toys”.

Law firm Hugh James explains that so-called ” cyber squatters ” buy addresses similar to those of well-known companies, or which they anticipate that companies may want in the future.
The cyber squatters then hope to either sell the web addresses for an inflated sum, or profit from the extra web traffic that results from a well-known brand appearing high in online searches, boosting their own advertising revenue.

Read the Full Article: Source – Yahoo News
https://uk.finance.yahoo.com/news/cyber-squatting-disputes-300pc-amid-000133281.html

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