You guys are beating a dead horse. What one individual did was out of line - period.
cybersquatting:
The practice of registering famous brand names as {Internet} {domain names}, e.g. harrods.com, ibm.firm or sears.shop, in the hope of later selling them to the appropriate owner at a profit. Some people have registered every common name and name combination they can think of with the hopes of making a profit.
In August 1999, the U.S. government passed the Anti-Cybersquatting Consumer Protection Act, which enables trademark holders to obtain civil damages up to $100,000 from cybersquatters that register their trade names or similar-sounding names as domain names. While not directly outlawing cybersquatting, it was an attempt to improve the situation.