A parked domain address is one which is taken, but it's not linked to another service - web or e mail hosting. To put it differently, such a domain name won't open any actual content in case 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 acquiring a domain name and parking it afterwards is the fact that you will be able to keep it and not stress that somebody else might register it in the meantime if, for example, the site for it is not ready yet. You could create a temporary Under Construction website page for a parked domain while you are working on your site, or forward it to some other web address - temporarily or permanently. The second option can be employed if you have already registered domain.com, for instance, and you acquire domain.net and domain.org, so as to protect a brand name or a trademark. In cases like this, the .net and .org domain names can be parked and directed to the .com as you don't need separate sites for them.