Most people understand what a domain name is, basically the address for your website on the Internet, but many people don't know or understand how domain names are stored in an Internet Registry, or how to protect a domain name.
Keep in mind that a domain name is very similar to a telephone number, and it's not actually found on the Internet, but literally points visitors to the computer that hosts the domain. For example, the IP address is a series of numbers that points to that location, but who remembers IP addresses? Instead, entering characters or series of characters literally "dials" the user or visitor to your website.
Many people also think they already have a domain name when in reality, they don't. For example, if your homepage is connected or tied to an Internet service provider, the provider or person who owns the actual domain, controls the domain. It's extremely important for individuals to have a domain name in commercial organizations. Much like extension numbers, domain names within an organization gives people direct access to you, your position, and your job purview.
Domain name extensions including .com, .org, and .net are relatively common, but not all imply the same type of business. For example, .com typically implies commercial use, while .org is typically chosen by nonprofit groups or professional organizations like hospitals and research centers. The .net extension is typically used by companies found on the Internet, including Internet service providers, while .gov extensions are designed for government offices and locations, while .edu is mainly reserved for educational schools, universities, and facilities.
In addition, it's possible to have more than one domain name, each functioning as an individual Internet website. Multiple domain names help you to stay one step ahead of the competition, and protect your name. In addition, we've all been warned about capitalization and punctuation in domain names, but today, the Internet is not typically case-sensitive. For example, if you type in "McDonald's" in either capital or lower case letters, you will make it to the McDonald's website.
When it comes to domain names, you can own a domain name and not do anything with it. This is called parking, and some service fees may apply to individuals who snagged a domain name and don't do anything with it. Buying a domain name for profit is also a rather common trend these days, but keep in mind that doing so also comes with its own list of pros and cons.