Oscar Academy Sights Cyber Squatting Suit on GoDaddy

The Academy of Motion Picture Arts and Sciences is accustomed to recognizing achievements in film by giving out annual awards, but on August 4, it will be looking to prove its own prestige in order to collect nearly $30 million in a California courtroom.
The high-stakes trial will be one of the biggest ever on the issue of cybersquatting, and domain registrar giant GoDaddy will be defending a program that allowed customers to buy domains like 2011oscars.com or betacademyawards.com, "park" that page and collect a portion of revenue from GoDaddy's advertising partners on a pay-per-click basis.