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(OT) Domain Name Question



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Even after doing some preliminary Internet research, I'm still a bit
confused....

If I want to have my own domain address, such as, oh, for instance,
www.kormanik.com, how do I go about 'obtaining' this?  Is there just one
'business' that handles this application process?  Do I have to subsequently
pay for my new domain name on a yearly basis, every year, forever?

Any help appreciated.

Nicholas Kormanik