A while back I wrote about what could happen if you don’t take precautions with your domain & hosting services. That article came as a free download ebook of tips which you can get here.
One of the points was that you should own your own domain name. It’s YOUR address on the web and you should not give control to anyone else, even your web designer. I read an article over the weekend where a thriving website with lots of users has had to buy a new domain and is fighting to regain control of their old one precisely because they allowed someone else to control their domain name.
Read about Cyanogen domain problems here.
In their case they had allowed a team member to buy their domain name through his own company and he had ‘gone rogue’ and done naughty things.
So, please take heed and own your own domain name.