Domain names are a valuable asset
Many businesses underestimate the value of their domain names. Consider, for example, what would happen if your entire company's email ceased to function because your domain registration lapsed. Or if someone else registered a similar name and set up an undesireable web site. Businesses should carefully consider what domain names they acquire, and make their ongoing care and maintenance the responsibility of someone with authority. Don't delegate it to the junior IT person, or a 3rd party provider who may have obtained a domain name for you.
Webnames.ca's most recent The Server Room newsletter has a good article that explains this in more detail, and sets out how they should be dealt with.
It starts off by saying:
In a very short time domain names have gone from total obscurity to a complete necessity, especially for businesses. A domain name (or, more often, a collection of them) is a company's face to the world-the way customers find them and research their products or services. Clear, direct and identifiable domain names are probably the most useful form of international advertising a corporation can possess. Accordingly, domains have become very valuable corporate assets.
Every business should read this.