ICANN is preparing to launch a simplified registration system for domain names and addresses.

ICANN plans to significantly simplify the registration of top-level domains starting in 2011. This will lead to the creation of a number of additional domain extensions, such as .blog, .bank, and .sport.

The new simplified procedure for registering internet zones allows any company from anywhere in the world to apply for any domain. The only requirement is that the new top-level domain must meet a number of requirements. For example, "if an organization wishes to register a culturally related domain, it will be required to provide documentation confirming the applicant's cultural affiliation," ICANN representatives explain.

In this case, it will be easiest for the owner of the registered trademark to register a new top-level domain.

There are currently 250 national domains (us, .ru, .ua, etc.) and 19 supranational domains (.net, .com, .org, etc.) worldwide. New top-level domains are not being registered yet, partly because the registration process for new ones is quite imperfect. Applications for such domains take a long time to process—on average, about a year and a half.

Market participants believe that the new ICANN regulations will clearly outline the criteria for evaluating applications. However, it's possible that the cost of registering a new top-level domain extension will increase—from $50,000 previously to $185,000 now.