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Definition: New gTLD

(New Generic Top-Level Domain) A top-level domain (TLD) name on the Internet sponsored by entities such as a community, industry group or a well-established company; for example, .quebec, .vacations and .toshiba.

Everyday words, company names, brands, cities and towns are able to become a top-level Internet domain name alongside well-known domains such as .com and .org. ICANN launched the New gTLD program in 2011, and applicants must prove they can become a functioning registrar for the domain. The application fee is USD $185,000, and the evaluation process can take from nine months to more than a year. As of January 15, 2016, 1,930 applications were submitted of which 887 were completed. More than 500 had been withdrawn by the applicant. See ICANN, Internet domain name and domain name registrar.