Starting next year, Internet domains will be liberalized, allowing businesses who are willing to pay for the priviledge to use their own name in place of domain extensions such as .com, .org, or .net.
The Internet Corporation for Assigned Names and Numbers (ICANN), which oversees domain names, is expected to start taking applications for new top-level domains early next year.
The price is currently set at $186,000.
There will also be additional “standard” extensions that will allow smaller businesses to use more specific extensions to match their business sector or geography.
Here’s an interesting blog post with more details.