>Its been done before against such notable giants as IBM, so give it a try, at this point youve really got nothing to loose.
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Not exactly correct. First, there are lots of headaches involved in having to defend an action if they come after you. You might consider your time better spent in other endeavours. Second, they could sue under the Federal Anti-cybersquatting Consumer Protect Act (ACCPA) which carries potential penalties of up to $100k. Once they file, the action does not necessarily go away just because you might decide to cave. They might want you to also pay money to settle. Third, it is not only infringement that is at issue, in addition to ACCPA which is not about infringement, there is also the Federal Dilution Act, which provides for actions by holders of "famous" marks, notwithstanding the lack of likelihood of consumer confusion.
There are few who are more ardent protectors of the rights of domain owners. However, having defended numerous such cases, I also have experience with those who waste their time defending actions for which they have little chance of prevailing over domain names which have very little intrinsic value, except for the fact of its perceived value to a sole trademark holder.