What is a domain name?

A domain name is the web address people type into their browser URL space to visit your website — like example.com.

A domain name is your on-line “street address,” making it easy for people to find you on the Internet.

Every website has a numerical address, called an IP address (for Internet protocol) but domain names translate those numbers into simple, memorable words. This helps your website appear professional, trustworthy, and easy to locate on-line

In short: A domain name is your website’s identity on the Internet

Who Owns The Domain Name?

First, it is important to understand you do not 'own' a domain name; rather, you lease the license to a domain name for a set time period. Your lease entitles you to the rights attached to that domain name during your lease period. Domain names are not bought and sold like real estate; rather, they are created and managed by ICANN - the )nternet Corporation for Assigned Names and Numbers.

When a person or business registers a domain, they become the legal registrant or registered entity/owner of the domain name.

Registrations occur for a set period of years, usually one to 10 years.

To retain a domain name, you must renew it before it expires or before the allowable time beyond expiration ends.

Note: others may acquire your business name as their domain name, so be sure to register all forms of your business name, as applicable.

How Is A Domain Purchased?

A domain is not purchased; it is leased. Leases are acquired through a domain registrar or reseller, such as Sigma One Group, ENOM, or Go Daddy.

All entities who sell domain leases are resellers under ICANN (the government body of the assignment of names and numbers).

The leasing person or business becomes the legal registrant of the domain, which gives them the right to use and control the domain.

Domains are leased for a minimum of one year and up to ten years in blocks of one year. In other words, you must purchase a license to a domain for no less than one year blocks.

How Is A Domain Renewed?

Most domain registrars provide a means by which you may automatically renew your domain license. In the event your registrar does not provide that service or you do not set it up, you will need to manually renew the domain.

Registrars charge fees to renew the license.

How Is A Domain Bought?

Domain licenses are acquired through domain registrars, such as ENOM, or resellers under those registrars, such as Sigma One Group.

How Is A Domain Sold?

Domains are sold on the aftermarket websites or through a trusted agent such as Sigma One Group. You should not buy or sell a domain without an agent or a registrar involved in the middle.

How Is A Domain Transferred?

To transfer a domain, you must first unlock the domain. Some registrars require certain protocols for transfers, so you will need to inquire with them as to the exact procedures they require.

In most instances, the receiving registrar platform issues a request for the domain, and the yielding party releases the domain.

Most transfers occur within 48 hours, but it may take longer depending on circumstances and registrars.

 

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