Hey Acro. Check this out :
Five UDRP decisions may signal a surprising trend. Following a position first espoused by M. Scott Donahey earlier this year, yet another UDRP panelist recently opined in WIPO
Case No. D2009-1278, that â[t]here seems no reason in logic or in principle why the availability of redress [under the UDRP] should be limited to situations where bad faith is present at the time of acquisition of the domain name.
There is really no telling what a panelist is going to do... they've got total power if they're assigned to the case... and no, I don't believe that it's required that they be in a member of a bar or even have a law degree... I think there are three arbitration organizations now which can handle UDRP decisions and each has their own process for approving arbitrators and assigning cases. I'd bet there are probably a few panelists who snuck in without even having a highschool degree. I'm also convinced a few of those panelists accept bribes because that's the only way I can see how some of the worst transfer decisions could have been made.
If you're ever on the wrong end of a UDRP, you can make it a little more likely that the decision will go with the consensus view by springing for the extra money for a three-person panel.
From my experience with UDRPs, the main thing we should keep in mind as domainers is that panelists don't see a dotcom as a real property right and don't think that owning a domain name automatically instills intellectual property rights in the term. If you go out and buy a high-value generic, you better take the time and the money to actually create a "legitimate" and recognized intellectual property right in the term... the easiest way to do that IMHO is to pay the $500 for a US trademark and to set it up as a developed site.
Another thing that domainers really need to understand is that a UDRP really should be the least of your concerns... an ACPA action can have a lot sharper teeth to it and can ruin you financially, even if you're on the right side. And don't think just because you're not a US citizen you don't have to worry about it... because your .com domain names are in Virginia so an aggressive plaintiff can claim in rem jurisdiction on all of your .coms/.nets/.orgs. And even a lousy IP attorney is going to charge you five figures to defend an ACPA action through to the end. And to top it off the bad faith requirement in an ACPA action isn't conjunctive like it is in a UDRP... so it doesn't matter if you registered GoogleMe.com five years before Google.com launched their search engine... if you have it now undeveloped and parked it's a huge liability that could potentially cost you $100k in statutory damages and five figures in attorneys fees.
I'm currently defending myself pro se in an ACPA lawsuit here in Nevada and trust me it's not a fun process. If I didn't have a law degree and enough know how to file an answer, I'd really be screwed.