A parked domain address is one which is taken, yet it is not connected to another service - web or email hosting. In other words, such a domain name won't load any real content in case you type it in an Internet browser, but no one can take it as you've already registered it and you are its owner. The benefit of getting a domain and parking it afterwards is that you will be able to keep it and not stress that somebody else may register it in the meantime if, for example, the site for it is not ready yet. You can set a temporary Under Construction webpage for a parked domain address while you're working on the web site, or direct it to another web address - temporarily or permanently. The latter option can be used if you have already registered domain.com, for instance, and you acquire domain.net and domain.org, so as 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 don't need individual sites for them.