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Domain names are used as a unique identity, helping businesses/organizations to aid web users in finding their online presence.
In short, a web user can type a domain name in their browser to visit a businesses/organization’s website.
If you would like a in-depth article about domain names, we recommend this one: http://en.wikipedia.org/wiki/Domain_name
Short answer: Yes.
Without going into a lot of detail—and for simplicity’s sake—here is how it works.
There are several ways to recover a domain name, but first and foremost, here is how to find information about the domain, such as: technical contact, who registered it, where was it registered etc.
Visit www.WhoIs.net and follow the screen prompts.
Take the learned information and use one of these 6 ways to recover your domain: http://www.domainsherpa.com/6-ways-to-recover-a-domain-name-from-an-infringing-cybersquatter/
Most web companies who register domain names know that their client’s info should be in the registration, not their own. However, some may have unknowingly registered the domain under their own name. Usually in these cases, the web company in question is willing to corporate and relinquish control. If they refuse, you will need to contact ICANN (the Internet Corporation for Assigned Names and Numbers) and settle the matter via the Uniform Domain-Name Dispute-Resolution Policy (https://www.icann.org/resources/pages/help/dndr/udrp-en).