Here, we need to understand what a website accomplishes and how it boosts your prospects of an effective business. You get a fully cleared domain name from the registrar. They will issue a “universal resource locator,” which is the link you have directing you to your website. This makes your domain important and uniquely yours. What you get with a network domain is your dedicated spot/business/store on the internet.

The character set allowed in the Domain Name System is based on ASCII and does not allow the representation of names and words of many languages in their native scripts or alphabets. ICANN approved the Internationalized domain name (IDNA) system, which maps Unicode strings used in application user interfaces into the valid DNS character set by an encoding called Punycode. For example, københavn.eu is mapped to xn--kbenhavn-54a.eu. Many registries have adopted IDNA.
If you have a web site, you should seriously consider registering your own domain name. A domain name is a name like "thesitewizard.com" or "thefreecountry.com", which you can use to refer to your website. Note that you do not have to be a company or organisation ("organization" if you use a different variant of English) to register a domain name. Any individual can do it too.

FatCow has one of the cheapest offers for an entire website package, with hosting and domain names for just thirty cents during your first month. After, that the price is $10.99 a month or $59.88 for the whole year, in a shared hosting package with enough bandwidth for most people. This is a limited promotion I found, but they still sell fairly well-priced packages (their "fat" options come with extras like marketing and advertising credits), and will gladly offer you perks for transferring your domains and hosting to them.
As always, we welcome all verifiable sales reports from companies, private sellers or individuals with knowledge of an important sale made through any channel. To contribute information and help make this column better,  just drop a note to editor@dnjournal.com. We truly appreciate the industry leading companies who share their sales information with us to help everyone in the business get a handle on current domain values. 

A handful of domains will have restrictions on them, which means you can only purchase them if you meet certain criteria or have authorization (some examples are .gov, .edu. and .mil). But most extensions are available to everyone. In fact, most country code Top Level Domains (ccTLDs) are available for anyone to purchase, even if you don’t reside in the country in question.
Domains are nonmaterial goods. When sold, the only transaction taking place is transfer of domain rights from one user to another. Barring any form of copyright or trademark violation, virtually any domain name can be bought or sold. Generic domain names, such as car.com or computer.com, are not legally protected and can therefore theoretically be reserved by anyone.
In order to register any domain, you must provide certain personal information that you may not wish to be publically searchable in the Whois database. Signing up for WhoisGuard is a great way to keep your registration data private. WhoisGuard acts as a "shield" for your searchable information, displaying the address, phone number, and email of the domain registrar (Namecheap, e.g.) instead of your own. Keep in mind that WhoisGuard is an optional security add-on that must be renewed separately when you renew your domain.
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