Domain names can be used to establish a unique identity in cyberspace Companies often choose a domain name that corresponds to their company name. Generic domain names are popular too. A generic domain name is one that would not immediately be associated with a company, but instead is a name that defines an entire category of business. Companies have gone on to create successful brands based on a generic domain name, and these names tend to be very valuable if the word is a common one. This lets you choose a truly unique email address and keep the same email address regardless of which ISP you use to access the Internet.
Domain names build credibility on the Web.
If you are trying to do business on the Web, a domain name is essential. It's like the difference between setting up a stall in the corner of a warehouse you share with dozens of other stores, and owning your own store. If your site is just a personal homepage set up for fun or as a hobby, you don't actually need a domain name. But you'll still find it easier to get your site noticed if you register one. No, you own the right to use the name for a defined period of time, often 2 years in the first instance.