A parked domain name is one that is taken, but it's not associated with some other service - web or e mail hosting. Essentially, such a domain won't open any real content when you type it in a browser, but no one else can take it as you have already registered it and you are its owner. The advantage of obtaining a domain and parking it afterwards is that you will be able to keep it and not stress that someone else could possibly register it meanwhile if, for example, the website for it is not ready yet. You could create a temporary Under Construction webpage for a parked domain address while you're working on the website, or forward it to some other web address - temporarily or permanently. The latter option can be employed if you have already registered domain.com, for example, and you obtain domain.net and domain.org, in order to protect a brand name or a trademark. In this case, the .net and .org domains can be parked and forwarded to the .com because you do not need separate sites for them.