A domain name is an easy-to-use and unique website address which you will be able to obtain for your site. It designates a numeric IP address that is employed to identify web sites and / or devices on the Internet but it is much easier to remember or distribute. Every single domain name consists of two separate parts - the actual name that you choose as well as its extension. For example, in domain.com, “domain” is referred to as Second-Level Domain and it's the part you will be able to choose, whereas “.com” is the extension, which is referred to as Top-Level Domain (TLD). You will be able to acquire a new domain through any licensed registrar company or transfer an existing one between registrars in case the extension supports this feature. This type of a transfer doesn't change the possession of a domain name; the thing that changes is where you will be able to manage that domain. Most of the domain extensions are free for registration by all entities, but a variety of country-code extensions have particular conditions for instance local presence or an active business registration.