A domain name is an easy-to-use and unique web address that you will be able to acquire for your site. It designates a numeric IP address that is used to distinguish sites and / or devices on the World Wide Web but it's quite easy to remember or share. Each domain consists of 2 parts - the specific name that you select and its extension. For instance, in domain.com, “domain” is called Second-Level Domain and it's the element you're able to choose, whereas “.com” is the extension, that is known as Top-Level Domain (TLD). You'll be able to acquire your domain through any licensed registrar company or transfer an active one between registrars when the extension supports this function. This kind of a transfer does not change the ownership of a domain; the sole thing that changes is the place where you can take care of the domain name. Most domain extensions are open for registration by all entities, however various country-code extensions have specific requirements such as local presence or an active company registration.