ICANN plans to liberalize its domain structure next year, according to the article. Instead of just the familiar top level domains like .com, .net and .org, firms choosing a domain name will have the option of using their firm name as the top level domain. This opens up branding options, and will allow firms to organize their domains in ways conducive to effective marketing.
For example, a firm could set up the domain name bankruptcy.firmname for the firm's bankrutpcy practice, or personalinjury.firmname for the personal injury section.
Of course, the price tag for a personalized top level domain will probably scare off all but the largest companies. ICANN plans to charge $185,000 for each new domain, but is still expecting roughly 300-500 applications, according to the Reuters piece.
While a personal top level domain might not be feasible for small to midsize firms, there are other options that might look more appealing. ICANN also plans to offer more geographically specific top level domains that it currently does, so a firm could buy a domain name that refers to its metropolitan area, like firmname.chicago or divorcelawyer.houston.
Grabbing one of these new domain names could lead to a marketing coup for your firm, enhance your location in search engine results and give your brand the prestige you've been looking for.
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