A radical change to the current web address system could cost businesses vast sums, according to a series of industry experts.

The well-known .com, .org, and .net suffixes could be joined by an almost unlimited number of new ones following a change approved by ICANN, the body with jurisdiction over web addresses.

Companies fear that the new suffixes could costs cost hundreds of thousands of pounds, if not millions, to enforce their trademark rights.

To avoid this scenario, businesses could opt to control a new ‘generic’ domain, such as .pasta or .coffee. However the proposed application fee for this is $185,000. For many companies with dozens of products, this could simply prove too expensive.

ICANN sees the change as a positive move however: "Whatever is open to the imagination can be applied for," says Paul Levins of ICANN. "It could translate into one of the largest marketing and branding opportunities in history."

ICANN says it won't take new generic domain applications until it has addressed industry concerns. This is likely to mean applications will not be considered until the end of 2009.