Did some other company beat you to your desired domain name? As a result, did you have to tack on an "inc" or "corp" or use an unusual abbreviation to land your current Web address? Well, you now have a second chance to get the domain name you always wanted.

The .biz domain (also known as a top-level domain) will be added shortly to the Internet lexicon of possible domain name endings. That means you will start seeing company Web sites at addresses like http://www.companyname.biz alongside those with more familiar domain name endings like .com, .org, and .net. What's interesting about .biz is that it is reserved for use by businesses only. To check out some options for registering domain names, go to http://www.buyerzone.com/internet/domains.html.

While you can wait to see if your desired name is available in October, when the names are slated to be available for purchase, you should apply for the domain name you want now. Applications for names are currently being accepted until Sept. 17. This does not guarantee that you will be awarded the domain name, though. If multiple applicants want the same domain name, a lottery system will be used where a winning applicant will be drawn among those that have applied. To improve your chances of winning the name, and interestingly further lining the pockets of the registrars that take these reservations, you can apply for any domain name multiple times.

What if you own a trademark that you would like the domain name for? You won't be given preferential treatment and automatically awarded the domain name, but an IP Claims Service has been established to warn prospective domain name applicants of your legal claims to the name. In turn, you will be notified of companies or individuals that wish to pursue applying for the domain name even after they are made aware of your claim.

Although it won't protect you completely, this service should serve as a useful deterrent and make it easier for you to expedite the process of handling would-be trademark trespassers even before a Web site is launched. You will need to register your trademark in the IP Claim Database through an approved .biz registrar to take part in this service; applications are now being accepted until Aug. 8.

Since registrars can set their own pricing, it makes sense to shop around. I've seen costs as low as $5 to apply for a domain name, $30 to actually register a domain name once it's granted, and $90 to file a trademark in the IP Claim database.

Keep in mind that your total costs may be considerably higher than the fees may suggest. Ordering new business cards and stationery and updating any existing marketing literature can be a costly business. In addition, any change in domain name can have untold costs among prospects and clients, much like changing your phone number. Keep your existing domain name as well; arrange to have it point to your new domain name and keep your customers happy.