When you decide to host your own website and need to select a domain name, many website owners are at a loss. They often have a coworker, employee, webmaster, or someone other than themselves do this for them. However, you should register and purchase the domain name and hosting in your name because of the following advantages:
It gives you a business identity that no one can take away: Your domain name is an important part of your corporate or business identity. It is something that your business associates and customers can remember, recognize, and positively associate with your offerings. So, even when you part ways with your business partners, you will not stand the risk of losing your unique domain name.
Portability: When you decide to change your physical business address or service provider, notifying everyone will be easier with your own domain name. Having your own domain name also gives you flexibility to bring such changes as you no longer need to wait for the approval of others involved, which is the case when the domain belongs to your associate, prior webmaster or someone else. Ownership of your own domain name also enables you to move your website to another host, that too without losing your web address.
Prevent loss of momentum: Promoting a website takes a lot of time and effort. In case your domain is in someone else’s name with whom your business relation sours over time, you will need to secure a new web domain. Thus, you will lose all the momentum and web traffic that your previous marketing efforts have brought. You will have to begin all over again.
Helps your SEO efforts: Getting registered with search engines and climbing the ranks among search engine results becomes easier with your own domain name.
Security: In the course of business, there are chances of your relationship with your partners/co-workers/web developers/webmasters going sour. If you have the domain in your own name, these people won’t be able to charge you an astronomical amount to “hand over” your domain name, or worse yet, sabotage your site by doing malicious things or hold your website hostage
Select a domain name that reflects your business or your offerings and is registered in your name and payment method to eliminate unnecessary hassles in the future should your relationship with your business partners or others working on your website takes a turn for the worse.