I think draggar is right, but it's hard to know without seeing the name. A couple of ideas:
Check the Canadian Trade-Mark database first (duh
http://www.ic.gc.ca/app/opic-cipo/trdmrks/srch/bscSrch.do?lang=eng . If the term or phrase is not listed or the mark has been expunged or abandoned, then you should be clear.
You must not be seen to be "passing off", ie. you are using the domain to trick visitors into thinking that you are the owner of the mark, and selling their product or a competing one.
If you registered the domain before the mark was issued, then they can't say that you registered it in bad faith.
If you do find 1 or more (always look for all the marks as many companies have multiple trade-marks of the same term, but issued at different times and often covering new wares or services), then be sure to check what wares and/or services the mark is good for. They can't have a blanket trade-mark that covers all wares and services. The registrant must declare which wares (products) and/or services the mark covers.
Don't try to sell the domain to the mark owner as that could open an can of CDRP worms :shy: If they approach you, that is a different story (I believe).
Register the domain/name as your own trade-mark within your own services and/or wares category, if you have the dough and it makes sense
Don't let a lawyer intimidate you, they want you to think that you are guilty, when you most likely aren't!