The URL (Uniform Resource Locator) is commonly known as the name of your web address. For example www.mywebaddress.com.
According to Dictionary.com a URL is: an address that identifies a particular file on the Internet
In other words, a URL is similar to reaching a particular person using a telephone number. In this case you’re reaching a website at its location and not a person at their home.
In order to claim ownership of a Url or website name such as www.mybiz.com or www.yourbiz.ca you will need to purchase this from a domain supplier and pay a user licence for it. Be careful this also means your licence can expire and you don’t want that. A domain licence can be purchase for a year or more. Costs for a Url depends on demand for the name. So you can imagine if your name is unique chances of it being cheap and available are good, meanwhile the chances of owning a popular name could not only be expensive but also not available.
After you have your URL you are ready to park it at a hosting company of your choice.