Selling Domains For Profit

ICANN, the organization that coordinates the Internet’s system of domain names, announced yesterday a plan to expand the availability of web addresses to allow for such domain names as Gap.apparel as an alternative to Gap.com.

The internet regulator is paving the way for companies to apply for a wide range of new top level domain names (TLD).

NEW YORK — The Internet’s key oversight agency relaxed rules last week to permit the introduction of hundreds, perhaps thousands, of new Internet domain names to join “.com,” making the first sweeping changes in the network’s 25-year-old address system.