Stage set for expansion of domain names (GTLD registration)

• The decks will be cleared in the coming months for expansion of the global web address regime, with the addition of hundreds of new generic top-level domain names (gTLD) — the concluding part of the address that follows the dot, like .com or .org.
• The Internet Corporation for Assigned Names and Numbers (ICANN) is set to accept applications from January 12.
• Any established public or private organisation anywhere in the world can submit applications to create and operate a new gTLD registry, provided it has the operational, technical and financial capability. The costs involved are huge — the evaluation fee itself amounts to $1,85,000. 
• Applying for a new gTLD is a proposition entirely different from buying a domain name (a unique website address). As ICANN explains: “An applicant for a new gTLD is, in fact, applying to create and operate a registry business supporting the Internet's domain name system.” The process of buying a domain name is relatively simple and usually inexpensive.