Almost as expensive (UDRP claims start around $1500), and more importantly, it'll fail. WIPO isn't that dumb -- they can look up the registration date of your trademark, check WHOIS, and determine that the domain was registered before your trademark existed.

> and determine that the domain was registered before your trademark existed

It's a shame they don't determine that the domain was squatted before your trademark existed. But it seems in their interest to give the benefit of the doubt to the one buying many, many domains yearly.

This is, in general, about as sleazy as the squatter.

Exactly. And definitely not guaranteed to work. Just pay a visit to nissan.com and read about the scumbag efforts of the car company to swipe that domain from some random dude who's owned it -- and isn't a squatter! -- for years and years.