Verizon, an Internet company, recently issued a statement stating that it had been granted a $33.5 million cybersquatting judgement (equally $50,000 per domain name) against OnlineNIC, a domain name registrar.

Verizon had filed a lawsuit against OnlineNIC in a US Federal Court, claiming OnlineNIC had registered 663 domain names incorporating its trade mark VERIZON causing confusion amongst end users searching for Verizon.

Verizon stated: “This case should send a clear message and serve to deter cybersquatters who continue to run businesses for the primary purpose of misleading consumers. Verizon intends to continue to take all steps necessary to protect our brand and consumers from Internet frauds and abuses.”

This judgement will be welcomed by the Intellectual Property community and is a small step towards reigning in the ever increasing practice of cybersquatting.

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