In other words, if you fail to act (and act fast) when renewal time comes, it can kill your business ... Almost instantly, too.

Certain web-based services offer people ability to snatch up expired domain names, like http://bizmint.com/ for example. These services may appear to prey on these unsuspecting business owners -- but keep in mind that registrars are really ones to blame.

However, such services can be used as effective tools by business owners who wish to protect their online piece of real estate from potential loss. In fact, services like these offer features that can become extremely helpful in preventing online identity theft.

(Realize that identity theft is not really a "theft." According to Kornblum: "It's hot. It's legal. And if you've got a popular domain name, you can be sure someone's out there just waiting for you drop ball so they can snap it up and run with it.")

Here's a three step process to prevent online identity theft (or to protect you from shady registrars with poor customer service):

1. Join an online service like http://bizmint.com/, and allow for daily email alerts of expired and soon-to-expire domain names to be sent to you moment they arise. (Only a handful of these subscription services offer this important feature.)

2. Create filters in your email reader that watches for specific words, including prospective domain names as well as your own, and immediately flags them as they arrive in your inbox. (And note that BizMint also offers an online tracking service.)

3. And finally, renew your domains as quickly as possible. (Also, some of these services offer members instant registration as well as domain name transfers for existing domains. Therefore, if your registrar's customer service is less than desirable, consider transferring your domain names to better a one.)

So, be sure to verify and be immediately notified well in advance of when your domain names are about to expire. In fact, USA TODAY reported that an average of 19,260 domain names expire every day in last month alone, as opposed to 1,200 just a year ago.

Is your domain name among them? If so, you better watch out.

Simon Grabowski is the owner of several online businesses that serve a growing network of over 23.6 million people. He is the owner of BizMint.com, the leader in expired and soon-to-expire domain names. Grab a great domain name for pennies! Above all, don't let yours fall into your competitors' hands! Join today before it's too late. Visit http://www.bizmint.com/ right now!

Shelley Lowery also bucked trend. Three years ago, she had to choose between sacrificing her favorite name, which was already taken, or making dot compromise.

Lowery took bull by horns and registered her business as http://www.web-source.net . Today, it's a highly- respected guide to professional web design and development with a dedicated following. Lowery says going .net didn't hurt a bit.

"A few years ago it seemed everyone was convinced that if you didn't get a .com domain you were a second class citizen. Things have changed considerably with addition of new domain name suffixes and extended number of characters.

"In my opinion, you have just as much of a chance of your visitors finding you with a .net or .ws suffix as you would if you settled for an alphabet soup domain name like www.learnhowtomarketontheinternet.com"

On other hand, website DotCom.com says we shouldn't be afraid of using a longer name. Shorter isn't necessarily better in scramble for a domain name.

"Just as company names continually break boundaries in effort to be both unique and memorable, so too must domain names extend beyond currently prevailing convention of simple words with as few characters as possible."

But that may end up being a moot point. New technologies and new suffixes (like .info, .pro and .biz, among others) will blow apart dot com obsession.

Internet users will adapt to ever-changing online environment, as they always have. And we'll all be laughing that we were ever so distraught over dot com dilemma.

In meantime, be a rebel. Stay open to options and try to enjoy what should be one of most fun parts of starting a new business - choosing a domain name!