Domain Names: Violating Federal Law for Fun and Profit.

Sooner or later you might get the bright idea that what you should really do is buy a lot of really cool exact match keyword domains in advance. You could buy the name, and then just hold onto it -- in fact what you could do is just buy the name and put lots of ads on the empty site that people might click on. Or maybe there's a person or business that hasn't bought up their own domains. Hey, what you could do is, you could buy them, hold onto them, and then sell them to whoever wants to claim them farther on down the line for a profit.
Or! You could buy domains that are typos of well-known names such as Micorsft.com or apell.com, and use it to sell apple or microsoft products for your own immense gain.
These are great ideas.
They are also illegal ideas.
Thanks to a number of high profile cases throughout the past ten years, all of these things are considered trademark infringement and they are a violation of *federal civil law* -- in other words you could get into big, big trouble for doing it.
You can of course own as many domain names as you like as long as you have a provable personal or business interest in it. So something like buydiscountresistancebands.com is perfectly fine. However, say you like Cindy Crawford ALOT. You notice Cindy does not own her domain name and what you decide to do is make a "tribute" site to Cindy, selling photos and videoes and whatever else is out there about or having to do with Cindy.
No. You can't do this -- UNLESS YOUR NAME IS ALSO CINDY CRAWFORD. And you put up pictures of *yourself*.
Otherwise it's trademark infringement, because Cindy has first dibs on any proceeds she might acquire from her name or image.
Follow me?
You also can't buy typos. Well, actually you can buy typos but if I were you I would be careful. People have gotten into terrible trouble for doing this, especially if they were buying typos reminiscent of very very very big names. There is a man who literally can not re-enter the United States because of how very seriously Microsoft took his practice of redirecting all typos to businesses he could profit from personally.
Just be careful with this, There still people out there who will suggest "domain-flipping" as a reasomable strategy, and the fact is it used to be. It still can be but just remember -- if you can't prove to the FTC that you have a legitimate potential reason to hold that name over someone else who might need or want it, best to leave that one on the table.