We were first introduced to the existence the Domain Man a couple of years ago when we began being contacted by random people who accused us of stealing their domain. Over the past couple of years, we have learned more about what happened...learned more about one of his companies "Click Consulting LTD"...the full story has more info.
He has a very interesting business model. Well, he has several business models actually. First, he will register domain names the instant they expire. This is legal, since the domain has expired. Why would he do that? Money. When the previous registrant attempts to get the domain back it is sold back for a profit, starting at a few thousand dollars per domain. This model is genius since it takes all of the risk out of cyber squatting. He does not need to guess which domain names will be valuable some day, he knows which domains are valuable since they have been registered and were recently in use.
Another business model he has is to register domain names that are typographical errors of common domain names. Why? Money. You see, he puts advertising on the misspelled domain names and when a person clicks the ad the advertiser pays him.
Fortunately, we haven't been contacted in months, so it seems like he has since created a new company to register his domains.
So what is the moral to this story? Never, ever, ever, let your domain name expire. And, if you have a brand or trademark, register the variations yourself. Google has been doing that recently too, and has registered gewgle.com , gooogle.com and hundreds of others.
More info.
If you are curious about finding out more, do a search on the internet for Click Consulting LTD and you will see how many lawsuits he is involved in. Also, domain detectives has a nice write up at http://www.domaindetectives.net/reports/unasi/unasi.php