It sounds so simple, doesn't it? Find a .com brandable that happens to coincide with an already existing company name that is using another domain extension.... sell it to them and make $$$ or maybe even $,$$$. Domain pros know better. There are a lot of pitfalls inherent to this "strategy". More often than not, said matching company will not be willing to pay more than low $$, if that! Nothing wrong or illegal about trying this, though. Worst case, you might get hit with an UDRP and lose the domain as a result. No big deal, so long as you have not invested more than reg fee in the name.
This said, brandables are a major domaining segment. This is because, properly done, brandables really are easy money. Notice the stress on "properly done". And cybersquatting is definitely not part of that!
FYI: cybersquatting is all about intentions, about bad faith, and not about whether or not there's an existing company with a matching name and when exactly you have come about that knowledge. Once you found out, you attempted to sell them the .com domain. That's akin to a bit of, well, blackmail and that's how you clearly demonstrate your bad faith. Morals aside, that's okay, provided you are aware of what you are doing and potential consequences of your actions (losing your domain).
