Domain name endings, also referred to as generic top-level domains (gTLDs) are currently restricted to 22, including .com, .org, .gov and .net, in addition to the 250 or so country-level domains, such as .co.uk.

However, Internet Protocol (IP) watchdog the Internet Corporation for Assigned Names and Numbers (ICANN) has now voted in favour of a proposal that will allow domain names to end in almost any word in any language.

"Today's decision will usher in a new Internet age," said Peter Dengate Thrush, chairman of ICANN's board of directors. "We have provided a platform for the next generation of creativity and inspiration."

However, in a bid to deter cybersquatters (individuals or companies who register a domain name with the intention of profiting from the goodwill associated with someone else's trademark), ICANN has set the registration fee at £185,000 (£114,000), effectively barring SMEs from applying for one of the new gTLDs.

BPIF public affairs advisor Andy Brown said that he was unsure of whether there would be either any demand or value in funding a .print or .packaging TLD for its members.

"We haven't had people coming to us saying we want this," he said. "So we haven't had a change to gauge reaction. It's just too early to say.

"For most companies it's prohibitively expensive, even without taking in costs should a domain name be contested.

"I suspect a lot of people will see cost rather than value."

ICANN has said the money will be used to cover the cost of developing the new gTLDs and employing experts to review the thousands of applications, while a portion will also be held to fight potential legal claims from parties who fail to get their chosen domain.

ICANN will soon begin a global campaign to raise awareness of the opportunities afforded by new gTLDs to market brands, products or causes. Applications for new gTLDs will be accepted from 12 January 2012 to 12 April 2012.