Why it matters
ICANN does not sell domains or control website content. It writes the rules that registries and registrars must follow. Those rules affect sellers directly. Examples are the Transfer Policy, the Expired Registration Recovery Policy and the UDRP dispute process. ICANN also runs the New gTLD Program, which creates new extensions. Think of ICANN as the rule maker, not as a place to complain about a price or a buyer. Knowing which body owns which rule saves time during a dispute or transfer problem.
Source: icann.org
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