sm ICANN is a 'non-profit corporation . . . formed to assume responsibility for the IP address space allocation, protocol parameter assignment, domain name system management, and root server system management functions previously performed under U.S. Government contract by . . . other entities.' (i.e., NSI). Immediately after ICANN was formed in 1998, the U.S. government entrusted it with the duty of centralizing domain name system management. In addition, ICANN also assumed responsibility for addressing abusive domain name registration and domain name disputes.

There are now two basic types of domain name registration practices that are considered to be "abusive" -- cybersquatting and reverse domain name hijacking. Cybersquatting has become a buzzword for what happens at the time of domain name registration, and involves 'the 'deliberate, bad faith registration as domain names of well-known and other trademarks in the hope of being able to sell the domain names [back] to the owners of those marks'' for a profit.

 Reverse domain name hijacking, by contrast, occurs after the domain name has been registered, and it is the 'bad faith [] attempt to deprive a registered domain-name holder of a domain name.' Reverse domain name hijacking involves the initiation of a court or dispute resolution proceeding by which the hijacker grabs control of the domain name from its rightful owner. The hijacker either wins the name outright or waits the owner out and receives the domain name in a settlement.