This is a funny Adwords trick i've used to get around a ton of trademarked terms in my ad text. Basically a lowercase l looks exactly like an uppercase I in Adwords. So any trademarked term with an I or an L can be replaced by the other, and it will get around it. I figured my ads would be dissaproved but to my surprise none of them were. You'll have a big advantage as trademarked terms obviously don't have much ad competition. Also your ad will look official so your CTR will be very high and thus your QS will be high and your bids will be low. When it comes to getting around trademarks and terms in Adwords: Accessories> System Tools> Character Map is your friend. You can find all sorts of "alternate" characters to us to spell out forbidden terms.
Interesting black-hat idea, but extremely risky if any of your competitors report you or you come up for manual review.
Google adwords provides supporting or learning center that is really help to beginner. adwords.google.com/support/aw/bin/static.py?page=learningcenter.
Ads like that will stay up until they get reviewed and/or somebody reports them. And I wouldn't think the ctr was that good - they'll look spammy as hell
Exactly. My data shows searchers are sensitive to that sort of thing and the CTR is usually atrocious.