Domain name is a name of your "property" on the Web, like "google.com" or "aj-consulting.com" or "newwanderers.org".
You have to claim or "register" your domain name with Internet registrar the same way you register your business name with the state. In case someone else has already registered a name, you cannot claim it and have to find another one.
The letters after the dot, like ".com" or ".org" are called Top Level Domains (TLDs) and generally show that domain belongs to one of the groups, ".com" - commercial, ".org" - organization, ".net" - Internet network provider.
There are other domain name extensions available for general public:
.me - "personal" domains
.info - informational websites
.mobi - websites targeting mobile devices
.us - US - based companies or individuals
There is no limit or specific requirement regarding TLD choice for the company or individual, you can register any name with any TLD if it is available.
AJ Consulting will guide you through the process of domain name registration with godaddy.com, our preferred provider, their fees vary from $0.99 to $9.99/year per domain name (prices as of 4/1/09).