A parked domain address is one that's taken, but it's not associated with some other service - web or e-mail hosting. Essentially, this type of domain won't open any actual content in case you type it within a web browser, but nobody can take it as you have already registered it and you are its owner. The main advantage of acquiring a domain name and parking it afterwards is that you are able to keep it and not stress that somebody else may register it meanwhile if, for instance, the website for it is not ready yet. You may create a short-term Under Construction page for a parked domain while you are working on your web site, or direct it to another web address - temporarily or permanently. The latter option can be employed 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 this case, the .net and .org domain names can be parked and forwarded to the .com as you don't need individual sites for them.