How would you deal with a cybersquatter? Or otherwise known as Domain Vulture?

http://en.wikipedia.org/wiki/Cybersquatting

This happened to a friend of mine. Who used a domain host that did not bother to give him a renew notice, or renew automatically.

Cybersquatter was asking for 800, now 500 dollars for it. Said domain has recently had a marketing campaign pointing to it – to make matters worse.

The ICANN UDRP – domain arbitration is expensive and slow. Litigation is also expensive and slow.