Did everyone forget about the Mike Rowe Soft ordeal? 17 year old Mike Rowe started his own web company and named it MikeRoweSoft.com (on purpose, he knew he was making a pun.)
Pretty much. It is a trademark and holders have to defend against infringements if they want to keep it.
You might win in court/arbitration if you have a legitimate reason for owning the domain, but you're going to need deep pockets to pull it off and be willing to put up with the harassment of a company that has infinity money and wants to crush you for sport.