Disputes over 'Internet domain names' hit record high: Report

London, Aug 29 (ANI): Disputes over Internet web addresses, also known as 'domain names', have hit a record high over the last year, experts have said.

In a report by legal information provider Sweet and Maxwell, it says that the number of disputes between parties over domain names hit 2,944 in July 2012 compared to 2,775 in July 2011, marking a six per cent increase on the year.

The disputes happen when companies find a competitor or domain squatter using their trademark in a website name or a celebrity's name and are adjudicated by the World Intellectual Property Organisation, The Telegraph reports.

The reason people domain squat is usually to steal online traffic or in an attempt to earn some money by forcing a company to buy their rightful web address, the paper said.

John Olsen, partner at law firm Edwards Wildman, and editor of Domain Names: Global Practice and Procedure, said the main reason for the increase in squatters and disputes was because of the amount of business shops now do online.

"As online retail becomes more profitable, household name brands are taking the defence of their domain names much more seriously. They are doing all that they can to protect their revenue streams - domain names are the key to the door of online retail," Olsen said. (ANI)