What, in detail, is cybersquatting?

Fill in the blank(s) with the appropriate word(s).

Cybersquatting is the practice of registering a domain name that uses the name or trademark of an existing business, with the intent to sell the name to that business at a profit or to capitalize on that name for some other purpose. A 1999 federal law called the Anti-Cybersquatting Consumer Protection Act (ACPA) makes cybersquatting illegal in the United States. International disputes may be brought before the World Intellectual Property Organization (WIPO), a UN agency. Since beginning this practice in 1999, the WIPO has received over 28,000 cases involving over 51,000 domain names. More than 91% of the cases settled in WIPO in 2013 were decided in favor of those who charged they were the victims of cybersquatting.