The growth of Internet and development of e-commerce has resulted in many complex intellectual property issues like cyber-squatting, domain name disputes, passing off and dilution of trademark in cyber space. Cybersquatters exploit the first-come-first-served registration process to gain unfair advantage. A need was felt globally for adopting a Uniform Policy to combat the menace of Cybersquatting. Domestic Laws, not being extra territorial, does not adequately protect the domain names. Brainchild of ICANN, UDRP povides a mechanism for resolving disputes between domain name owners and trademark holders and the domain name registrants. Prior to UDRP, the domain name disputes were resolved by settlements or litigations. Initially, it was felt that establishment of UDRP shall put an embargo on the Cybersquatters and shall also act as a deterrent, however the year-on-year growth of the Domain Name disputes filed and decided by the UDRP reflects towards the contrary. This paper aims, inter-alia, towards highlighting the development of the Internet, illegal acts of cybersquatting, role of WIPO and empirically analyze the effectiveness of UDRP for combating Cybersquatting and Domain Name Disputes with the help of mixed research methodology.