Have you heard of "URL Squatting" before? And what does it mean to "buy" a URL?

I guess it’s a pretty common practices among business to snatch up (“buy”) web domains that are insulting to them, to shut them down. As of Oct 2016 trump had taken 3,600. Hillary, 30.

Also, what does it mean to “buy” a URL? I’m not sure. I’ve always been under the impression that we simply rent our business URLs through GoDaddy, or a subset of GoDaddy. We get to design it and name it whatever we want, but we don’t actually OWN it. We just rent it.

Education please?