cyberpiracy
n. The purchase of an Internet domain name that includes a company's registered trademark name, with the intention of selling the domain name to the company. Also: cyber-piracy or cyber piracy.
cyberpirate, n. Also: cyber-pirate or cyber pirate.

Example Citation:
" 'A big company doesn't want to find out a 12-year-old kid has already registered its name,' Ms. Bailey says. This was pretty much the case for Apple Computer Inc. when it discovered 16-year-old Calgary student Abdul Traya held title for the domain name appleimac.com, which he registered two months after Apple announced the iMac computer launch. Mr. Traya received a letter from Apple's lawyer saying he committed an act of 'blatant cyberpiracy.' "
—Margret Brady, ".com before the storm," The National Post

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