A parked domain name is one that is taken, but it is not associated with any other service - web or email hosting. Basically, such a domain will not load any actual content in case you type it in a web browser, but nobody 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 the fact that you will be able to keep it and not worry that somebody else might register it meanwhile if, for instance, the site for it is not ready yet. You can create a short-term Under Construction webpage for a parked domain address while you are working on your website, or forward it to some other web address - temporarily or permanently. The latter option can be used when you have already registered domain.com, for example, and you obtain domain.net and domain.org, so that you can protect a brand name or a trademark. In such a case, the .net and .org domains can be parked and forwarded to the .com because you don't need different websites for them.