A domain name identifies one or more IP addresses. For example, the domain name “abdicar.com” represents a certain IP addresses.
It is unique. No other company or person on the Internet can now use abdicar.com to identify his/her website.
Domain names are used in an URL to identify particular Web pages. For example, in the URL http://www.abdicar.com/, the domain name is "abdicar.com.”
Once the domain name is registered to a person or company, it is that person's to use exclusively as long as they continue to pay the yearly renewal fee.