The address of a web site is known as a domain name. Any one can register a domain name if it is available. When you register a domain name, you do not own it, you are paying for the right to use it for a specific period.

Most people register a domain for one or two years at a time, though they can be registered for up to 10 years at a time. When your domain registration period ends, you will be given the option to renew the right to use the domain name.

The number of years that you renew the domain for is know as the domain renewal period.