It is necessary to consider the “who is on paper” who can legally purchase domain names and sole ownership. According to the domain name overseer, ICANN, an IP owner who is not aware of their own financial collateral value in registering a domain name, may give up ownership of the domain due to bankruptcy, or may not know how to transfer ownership in this digital age.
You or your business owns a domain name because ICANN is allocated to a specific person or business through the name server system. You own the domain in two ways – if you registered it and paid for it as property, or if it was gifted by one of your relatives.
Domain names are the registered web address of a website, like google.com. Generally, all people can use a domain name for their website that is not taken by someone else. If a person or company creates a new domain name they can register it with the company ICANN, which provides Internet Protocol numbers and domain names (a computer uses an IP number to locate your webpage).
There are many factors that are considered when assigning domain names: personal preference, business, and commercial considerations, and future availability use.
The Organization of ICANN is the responsible body for the worldwide coordination of the Internet’s addressing systems and databases. They are in charge of allocating live domain names.
A domain name is a digital identification that cyber entities use to identify themselves online so that they can be located more easily. A domain name usually reflects the underlying trademark or trade name indicating ownership of the trademark by the entity.
ICANN is in charge of the registry for many country codes and worldwide domains but oversees domain registration for IP related to use by public-facing web content such as website URLs, IP addresses, and autonomous system numbers (which may match natural persons), and names for 911 emergency services.