Shortly after the internet became reality, a registry was formed called the InterNIC. When an organization wishes to secure their own domain name, they must register their request with this registry. The InterNIC then bills the applicant $70.00 for the use of that name for a two year period. Renewal is annual thereafter. The name becomes the property of that individual or entity provided they continue to pay the renewal fee. It can be sold or leased at their discretion.
The majority of companies who intend to maintain an internet presence want their own domain name. Their clients are impressed that the company is professional and progressive to have their own domain name.
Domain names can be up to 26 letters and for companies always end in ".com". Although there are hundreds of thousand of companies with their own domain names, there are still many names that are available or creative substitutes can be created to insure that your address will reflect your company name or product. With the tremendous growth of the interent new domain name address extensions are being created to offer new possibilities for a company that wants a specific domain name. So now, more than ever, there is no excuse for any organization to hesitate to join the information highway.
"Like the PC, the Internet is like a tidal wave. It will wash over the computer industry...drowning those who don't learn to swim in its waves."