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The Internet body that oversees domain names voted to end restricting them to suffixes like .com or .gov and will receive applications for new names next January. Besides the $185,000 to apply, individuals or organisations will have to show a legitimate claim to the name they are buying.

Experts say corporations should be among the first to register, resulting in domain names ending in brands like .toyota, .apple or .coke. And gTLDs such as .nyc, .london or .food could provide opportunities for many smaller businesses to grab names no longer available at the .com level -- like bicycles.london or indian.food.

Today, just 22 gTLDs exist -- .com, .org and .info are a few examples -- plus about 250 country-level domains like .uk or .cn. After the change, several hundred new gTLDs are expected to come into existence.

Read More:http://www.reuters.com/article/2011/06/20/us-internet-names-idUSTRE75G49W2011...