Domain name registration
If you are solely relying on traffic from search engines then you should use real words and phrases like (yourtown) bikes.com that people are searching for to increase your search ranking. If your marketing focus is on paid search listing, banner ads and buzz building, you should come up with a brandable name that people will remember or think that is trendy. Be creative and do not limit your market, but bear in mind that most single word domains are taken and you might need to create your own word or phrase. Try compounding two whole words, blending parts of two words together like Microsoft or making up a completely unique name.
Domain name and TLD
A domain name is an address on the internet a for website, for example www.iwebsitez.com®. It's usually a word, a company name or person's name etc. A top-level domain (TLD) is one of the domains at the highest level in the hierarchical Domain Name System of the Internet. The top-level domain names are installed in the root zone of the name space. For all domains in lower levels, it is the last part of the domain name, that is, the last label of a fully qualified domain name. In other words the .com or .net part.
What is ICANN?
ICANN (Internet Corporation for assigned names and numbers) regulates domain industry in all over the world. Along with country code and generic top level domain name system management, it is responsible for internet protocol (IP) address space allocation, protocol identifier assignment and root server system management functions. So, ICANN accreditation symbolically represents credibility of the domain registration reseller and domain hosting reseller as well. For instance, ICANN accredited Domain.