There are two services that you’ll need for a functioning site - a domain plus a hosting plan for it. Any time you type the domain name in your Internet browser, you see the content that is uploaded inside the hosting account, but if that Internet domain isn't linked to such an account or to an email service, it's parked. In other words, the Internet domain is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be forwarded to some other URL of your choice. The benefit of parking a domain name is that you can keep it and make sure that nobody else is going to take it. Meanwhile, it won't occupy a slot for a hosted domain name inside your account. You may also park domains if you have a .com, for instance, and you register domain addresses with other extensions like .net, .org or country-code ones to forward them to the main website in order to protect a brand name.