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Should You Switch Your Company's URL to a New Domain Extension? .florist? .coffee? .technology? The options are vast, but are any of these new domain extensions worth the money?

By Mikal E. Belicove

Opinions expressed by Entrepreneur contributors are their own.

Q: Should I switch my company's URL to one of the new domain extensions?

A: You're referring to the recent decision by the Internet Corporation for Assigned Names and Numbers to open up more than 1,000 generic Top-Level Domains (gTLDs) to domains outside of the .com, .net and .biz variety. Now, new gTLDs--.florist, .gallery, .repair, .homes, .technology and more--are just as easy to register as .com. This means a small business such as Sunrise Coffee in Las Vegas could switch from its current URL, SunriseCoffeeLV.com, to the simpler Sunrise.coffee.

We asked Joseph Peterson, a domain-name and branding consultant in the greater Seattle area, for his thoughts on the pros and cons of such a shift.