Online name theft is called cybersquatting – and companies with recognisable brand names say it is about to get much worse. The organisation that manages the internet’s addresses is moving ahead with plans to add as many as thousands of new web suffixes. Right now, there are a limited number, such as .com and .net. The group wants to open it up to new endings like .shop or .music.
That, in turn, would add the potential for millions more websites, providing fresh channels for cybersquatters to hijack brand names for their own sites and siphon consumer traffic and revenue.
The Association of National Advertisers, a Washington-based trade group, assembled an industry group last year including Coca-Cola, Johnson & Johnson and General Electric Co. to oppose the expansion of suffixes, known as top-level domains, saying they will increase costs for companies, confuse consumers and spark new internet crime.
(Source: Jakarta Globe )