ICANN (Internet Corporation for Assigned Names and Numbers) has proposed to expand the the resolution system for Generic Top Level Domains (gTLD) in 2010. This will directly affect legal cases involving cyber-squatting, when someone registers a domain name that is identical or similar to the trademark of a business (such as Target.com).
Under the new system, companies would be allowed to register their own gTLD. For example, Microsoft could register .msn and then have a series of domains such as windows.msn, live.msn, and office.msn. Similarly, a city such as New York City, could apply for .nyc. Any applications must be approved by a special committee that will be appointed by the ICANN board.
Companies can begin submitting applications sometime in Q1 of 2010. Those wishing to be evaluators who will review the applications, must apply by July 11.
The original most widely-used gTLDs were .com, .net, and .org. In 2000, several new gTLDs were initiated, including .aero, .biz, .museum, .name, .info.
This change has brought both praise and concern, and because of this, ICANN has setup many avenues for discussion with concerned parties.