I recently did a search for a domain on GoDaddy, the domain was available. Week later when I went to buy it, it was not available and had been bought by some firm in UK. The name was unique and there is no way anybody can guess it (untile and unless GoDaddy give out data). My point it if you found a good name just register it. According to this article:
Verisign, the operator of the generic TLDs .COM & .NET registry, is considering selling access to selected root dns server lookup data to registrars. The root servers are what make domain names work on the Internet, meaning that many domain queries hit these servers on their way to a site or an email recipient.
In dotcom era cybersquatting was at its peak. Basically booking or using domain names with bad-faith to make profit from the goodwill of a trademark belonging to large/small corporations. They also try to sell these domains for profit to others or even to business itself. Even after DOT-COM crash Cybersquatting still continues because of profits.
I remember when I uses to sell computers and my firms name was ‘Cyberciti Computers’, so I booked cyberciti.biz domain. I used to get an email from someone who claims to owner of domain cyberciti.com and willing to sell me the same.
By past mistakes I have also learned lesson to renew domains on time. My first domain vivek-tech.com was taken by someone. So if you got domain make sure you rename it on time or even in advance.
If someone takes your domain related to your business then you can take the help of laws. If you are in US you can take help of 1999 US federal law known as the Anti-Cybersquatting Consumer Protection Act. I don’t think so we have any such law in India, under IT Act 2000.