Domain Name Basics

A domain name is the name of the website you enter in the address bar. Every computer on the Internet has an IP (Internet Protocol) address, like a street address, but domain names are used to make website addresses easier to remember and get to.

Creating a Domain Name

You need to register your domain name so other people know they can't use the same name. It's like filing a patent or establishing a copyright. But instead of going to the patent and copyright offices, you go to private companies such as Network Solutions, GoDaddy or VeriSign.

Keeping a Domain Name

This name is not granted to you permanently. You must pay a fee, usually on an annual basis, to maintain ownership of the name. If you do not, your rights expire, and someone else can register the name and prevent you from using it.

Squatters

There is a cottage industry in monitoring for expiring domains and in taking likely names that might prove popular later. This is known as "squatting." Sometimes the squatter gets paid a large sum to transfer the rights and other times they go through a legal battle over the name.

Top-Level Domains (TLDs)

The TLD is at the end of the address. The major ones are .com, .org, .gov and .net. There are also "country codes" at the end. A site located in the UK can have ".co.uk" at the end, indicating it's a .com site located in the United Kingdom.

Source:

Domain Name Management Overview

Development of Domain Names