Domain name is your corporate identity in the web. The best approach is to choose the domain name that match exactly with your company name. Of course, you can pick the one different from your company name.
There are many choices to choose the top-level domain name, like .com, .biz or .net. You are suggested to choose .com as it is the most acceptable and recognizable domain. People can easily identified the .com web site is owned by a company. .biz and .net may bring confusion to your customers.
If your business is localized or you want to emphasis where your company located, you can add the corresponding country code, like .uk or .au
Don’t pick those free hosting web site, like geocities.com. This kind of free domain only reduces your company reliability.
Beside the mentioned points, you have two important factors need to consider when getting your domain name.
You need to ensure that your domain name do not breach copyright or infringe trademarks. Even if you can get the domain name now, you may be sued later if you violate the copyright law.
2. Own your domain name
If you use a web designer or third party for your domain names, ensure they are registered in your name. That is your domain name is owned under your name, not the web designer, web hosting company or other third party. Ensure you have a signed agreement with the company that they will release all the details (including password) to you. If you move your web site to another hosting company, you need to have a domain password to proceed for the change. However the domain password is normally kept by the party who help you register the domain name. Be sure you can get back the domain password from them.