With the arrival of over 1,400 new generic Top Level Domain names (gTLDs), such as .energy and .legal, a system had to be developed to provide trade mark owners worldwide with the opportunity to register their trade mark under one or more new gTLDs as a domain name prior to the general public (during a so-called sunrise period). This system should indeed prevent cybersquatting, whereby a domain name is registered and/or used in bad faith to profit from a trade mark owner. To this end, ICANN appointed Deloitte and IBM who created the Trademark Clearinghouse (TMCH), which opened on March 26 2013.