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Domain parking is the registration of an Internet domain name without using it for services such as e-mail or a website i.e without placing any content on domain. This may be done to reserve the domain name for future development, to protect against the possibility of cybersquatting, or to engage in cybersquatting. Since the domain name registrar will have set name servers for the domain, the registrar or reseller potentially has use of the domain rather than the final registrant.
Domain parking can be classified as monetized and non-monetized. In the former, advertisements are shown to visitors and the registrant gains revenue. In the latter, an “Under Construction” or a “Coming Soon” message may or may not be put up on the domain by the registrar or reseller. This is a single-page website that people see when they type the domain name or follow a link in a web browser. Domain names can be parked before a web site is ready for launching.
[Source: Wikipedia: Domain Parking]