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A domain name registrar is company that has been accredited by the Internet Corporation for Assigned Names and Numbers (ICANN) or a national country code top-level domain (TLD) (such as .uk or .ca) to register domain names. Domain name registration is a competitive industry, in which domains may be sold in a number of TLDs, including ".com," ".net," and ".org." among others.
Suppose that an enterpreneur wants to register a domain through which he intends to sell inexpensive laptop computers. The enterpreneur might approach a domain name registrar to register the domain "laptopsforcheap.com." If the domain name hasn't already been registered to another person, the entrepreneur can register it and gain the right to use it by paying the registrar a yearly fee to secure the space.