The work mainly deals with the emerging and important issue of Cybersquatting in cyber space today. Cybersquatters are often branded as modern day extortionists and rightly so as they bear enough potential to inflict hefty damages on any one- be it an individual, government or giant corporate houses. To deal with this menace international community has made some efforts in the form of ICANN but its structure and functioning still leaves much desired. Jurisdictional issues arise frequently as it is not a territory specific crime. Virtually whole world is sitting at a hot seat due to the threats posed by the cybersquatters. All this is discussed in the milieu of laws and procedures as adopted in US and India and the problems involved therein. Adequate number of case-laws are also referred to make the position clear and bring out the intricacies that may be viable in formulation of any policy coming up with respect to the iussue of cybersquatting.