Speaking to V3.co.uk, ICANN president and chief executive Rod Beckstrom warned that businesses risk being left behind unless they prepare early for the new regime.
From January, businesses will be able to create their own domain name extensions, subject to a limit of 42 characters.
But they only have until April 12th to make their applications for generic top level domains.
“My call to action would be to get educated now on this before the window closes,” he said.
“We’ve created rules to protect the industry, things on security and stability, the quality of the operators and intellectual property, more rules than for any previous [project].”
Mr. Beckstrom also attempted to justify the $185,000 application fee, pointing out that ICANN is a not-for-profit organization.
He explained it is expensive to conduct checks on things like financial background, cybersquatting and dispute resolution.
The fee has the benefit of erecting a barrier against criminality, Mr. Beckstrom stated.