<< If the domain name expires and you do happen to "snapt it up" .... the original owner can sue you for squatting if they do need it back. Its happened before and the squatter has lost. >>
If you have a legit use for the domain and its not you trying to register microsoft.com to hold it over their heads then it isn't really name squatting. Now I saw the weakest thing the other day when helping some people with their network. Their neighbors came over, they run a religious non profit org that really helps all these people so they are really nice, anyway they said they had a company that was doing their web site for them for free. Well this company went under but didn't tell any of its clients. Well since no one knew what was going on and they were paying for the domain names too they let it all go since no one was even there to get the mail saying to renew the names.
Well their name which is all over the marketing materials and stuff got scooped up by some guy in armenia and he put up a porn site with a big banner saying if you want to buy the domain back then the bidding starts at $550 US, I called netsol freaking out about it since they weren't even getting bills and they said it is too bad cause its the old hosting company's fault for not telling people and the domain was on the open market, so I think if you scoop one up legally cause they didn't pay then its yours.