A parked domain name is one that's taken, but it is not linked to any other service - web or email hosting. Essentially, such a domain name will not open any real content when you type it inside a browser, but no one else can take it as you've already registered it and you are its owner. The benefit of obtaining a domain name and parking it afterwards is the fact that you will be able to keep it and not stress that someone else could possibly register it in the meantime if, for instance, the website for it is not ready yet. You could create a temporary Under Construction website page for a parked domain name while you are working on your site, or forward it to another web address - temporarily or permanently. The second option can be used if you have already registered domain.com, for example, and you acquire domain.net and domain.org, in order to protect a brand name or a trademark. In cases like this, the .net and .org domain addresses can be parked and directed to the .com because you do not need different websites for them.