A parked domain address is one which is taken, yet it is not associated with any other service - web or email hosting. Essentially, such a domain name won't load any actual content in case you type it inside a browser, but nobody can take it as you have already registered it and you are its owner. The benefit of obtaining a domain and parking it afterwards is that you’re able to keep it and not worry that somebody else could possibly register it in the meantime if, for example, the site for it is not ready yet. You could set a temporary Under Construction website page for a parked domain while you are working on your website, or direct it to another web address - temporarily or permanently. The second option can be used when you have already registered domain.com, for instance, and you get domain.net and domain.org, so as to protect a brand name or a trademark. In such a case, the .net and .org domain addresses can be parked and directed to the .com because you do not need individual sites for them.