Domain names have a first and second level. In the blogspot.com domain name, the ".com" portion is considered the first or top level domain name, and "blogspot" is considered a second level domain name. There are many common at 2nd level domain (profit based business ogranisation) such as .com (which is the most popular), .biz, .cc, .co. There are also non-profit based business organisation such as .org, .tv, .edu, .gov and etc.
The selection and protection of a domain name may be the most important detail in the creation of a web site. Domain names function as the address for a web site, and disputes over domain names have become more common and more heated as the popularity of the Internet grows.
To check whether your domain name not be taken you can go WhoIs search to find out. In addition, it may be wise to perform a trademark search to verify that the chosen domain name is not infringing on another party's trademark.
To create a domain name are requires to registrer through online register such as http://readyspace.com.sg/. There are some of the rules and regulation youe need to be concern. If you discover that someone else has already taken their corporate name or trademark as a domain name. In most cases, there is little that can be done because the other party has equal right to use that name. However, it is possible to contest a registered domain name based upon superior rights to that name. Such a contest can be made through the courts or through InterNIC's domain name dispute policy. On the other hand, If you afraid losing your domain name and you want to protect you can obtain a trademark registration on your domain name.
If you want to register a domain name this are the information you need to concern before creating a domain name.
References:
http://www.bitlaw.com/internet/webpage.html#linking
http://www.moniker.com/news/legal-issues.jsp
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