It is a name used to represent a place where you could find information for a specific person, organization, company or government throught the world INTERNET connection. It is like your place standing by to show information to public who try to visit yours via INTERNET. Each company shall own an INTERNET DOMAIN NAME for their public information shown on the INTERNET.
Generic Top-Level Domain Name (GTLD) is a common ownership allowed domain type, means everyone could registered one without any business license or any legal documents. Any name they wish to own, somehow registered earlier then other, is OK.
GLTD commonly in used are: .com, .net, .info, .org, .ws, .biz, .bz, …
Question: Why people want .COM?
Because .com is a generic name for COMPANY, while .net is for Network and .org is for Organization.
Question: Why not .Biz instead of .Com?
Yes, we could instead of using .com to own a .Biz (Business)
