Domain name extortion

[linkavb]

What is the name of your state (only U.S. law)? IN

I am trying to start an online business and have registered a name with U.S trademark's office. However the domain name is taken by someone else. An individual. When I contacted him to sell me the domain name for the amount he paid, he asked for a five figure payoff.

If I own trademark with that name, is it legal for him to hold on to domain name? He also lives in New Zeland and not in USA.

Thanks

 

[Zigner]

What is the name of your state (only U.S. law)? IN

I am trying to start an online business and have registered a name with U.S trademark's office. However the domain name is taken by someone else. An individual. When I contacted him to sell me the domain name for the amount he paid, he asked for a five figure payoff.

If I own trademark with that name, is it legal for him to hold on to domain name? He also lives in New Zeland and not in USA.

Thanks

So, you tried to still his domain by registering it as a trademark huh?