Run any number of searches for domain names and you will find most of the truly good ones taken. This is a minor irritant when a legitimate organization or person of some kind is using it. What is annoying are the boatloads of domains that have been claimed by some person or organization who does nothing but put a page of banner ads for them--then attempts to sell said domain for copious quantities of cash. In short, these entities, known as cybersquatters, claim any domain name that they think someone might possibly want in hopes of cashing in big. Over time, I have heard various ideas for dealing with cybersquatters, most of which involve some regulatory agency (usually ICANN) stepping in. The US has already put some laws into place to help combat this. Really, ICANN, the US, India, and whoever else may take an interest in this should just forget it. The market will work this out and it has already begun to.
The economics of cybersquatting rely on the given domain name being so important that some other person or entity feels they have no choice but to pay an exorbitant sum to acquire or reacquire the domain. This motivation is dying and with it will die the profits, real or imagined, that can be obtained through cybersquatting. For established businesses the motivation is, rightfully, a powerful one. People expect that if they go to ibm.com it will take them to the website of International Business Machines. It is simply too big a company to expect otherwise. Most of these establishments have already acquired the domains they wanted or needed. IBM will not likely lose a domain name any time soon. Even if there were once some large sums made, the big dogs are done playing this game. New businesses by and large cannot afford (or are unwilling to afford) the purchase of a squatted domain. Instead, the choice of business name is made alongside the search for a domain name. If a suitable domain cannot be had, people are moving towards choosing another name rather than pay what amounts to protection money. Squatters are, no doubt, are still attracted to this little get rich quick scheme because money really has been made that way in the past. Those profits are dwindling and will continue to dwindle until only a few foolish people continue to attempt it. In that day, cybersquatting will be all but dead--without the help of any bumbling, meddling regulatory agency.