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The internet governing body ICANN recently announced plans to open up the top level domain system, allowing individuals and companies alike to apply for their own top level domains (TLDs). This paves the way for potentially millions of new domain names from .hotels to .surfing to .whateveryouwant.
There are currently just 21 top level domains available, but with this new announcement, an infinite number of domains could be on the horizon. Brands such as Apple will be able to register .apple, and cities such as Auckland could register .auckland.
But will this have as big of an impact on the online sector as many are speculating? Is it really a big deal?
My initial thought was that this would increase the threat of cyber-squatting exponentially. Would this flood of new domain names force organisations to register all their brands and trademarks to prevent others from obtaining and exploiting them?