Can a domain be re-claimed if the owner loses it?

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puki

In IRC, if your 'Nick' expires then you lose it. If you had it for 10 years - tough - you lost it.

So, what if a major brand name forgets to renew it's domain? If I spot it and then register it - is it mine?

I've been stalking a few developer/publisher sites and wondering if you can steal a domain from under their nose - then sell the sucker back to them for a few thousand - or does the law take their side and take pity on them?

I'm currently observing a big-boy one that expires on 11/7.