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English definition of “cybersquatting”

cybersquatting

noun [U]     /ˈsaɪ.bəˌskwɒt.ɪŋ/ US  /-bɚˌskwɑː.t̬ɪŋ/
the situation in which someone pays for a famous name as an internet address, so that they can later sell it for a high price to the person or organization with that nameInternet terminology and abbreviations cybersquat     /-skwɒt/ US  /-skwɑːt/ verb [I] (plural -tt-) cybersquatter     /-ˌskwɒt.ər/ US  /-ˌskwɑː.t̬ɚ/ noun [C] Internet terminology and abbreviations
(Definition of cybersquatting noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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