A domain name is an identification string that defines a realm of administrative autonomy, authority or control on the Internet. Domain names are formed by the rules and procedures of the Domain Name System (DNS). Any name registered in the DNS is a domain name. Every month over a million domain names are registered. Some preregistered domain names have sold for huge prices: business.com for $7.5 million, loans.com for $3 million, forsalebyowner.com for $835,000.