There is no such law? Where have you been? That law was passed years ago. A guy by the name of John Zuccarini is probably the most famous cybersquatter. He tried to fight the law and he lost big time. Just like you will. Here is the article about that asshole:
http://cma.zdnet.com/texis/cma/cma/+1E_eiplhxzmwwwSq_qos9_W__+KmzmwwwwdFqrp1xmwBnpzmw ww3iFqnhw5B/display.html