A domain name is a website address or identification on the internet whereby a user can find a website location. For example: theseedmill.co.uk is the domain name for our company. No one else can have this name whilst it is registered to us. Because we registered theseedmill.co.uk to our business, it is ours for as long as we continue to pay and annual fee to keep it registered in our name.
Every domain name is hosted by a DNS provider (Domain Name Server) and an annual fee will normally apply to keep that domain name running. This is usually inexpensive (varying from £10 to £50 per year) and a lot of businesses like to own numerous domain names related to their business.