There are presently only seven such names in operation including .COM and .ORG. It is hoped that the increased number of top level domains will reduce competition for clear and concise domain names.
In addition, more specific names such as .TRAVEL may help internet users to readily identify services they are looking for.
Although ICANN’s decision has been praised for increasing flexibility and choice for companies and individuals seeking to establish a presence on-line, it has also received heavy criticism.
Some critics are concerned that the current proposals are too vague on essential points including how many new names will be created and how trade mark infringement issues will be dealt with.
Many companies presently seek to register under all available top level domains to retain an exclusive identity and so the lack of domain names may not be rectified by simply introducing new names.
ICANN proposes to seek bids from operators of the new domains from August with the maximum cost of controlling them estimated to be $50,000. ICANN aims to have completed this procedure and to have begun phasing in the new names by the end of this year.