There are many types of domain names. Each type serves a different purpose. Some types have restrictions on who can use them. For example .org can only be used by a recognised not-for-profit organisation. Others such as country domains can only be used by a company registered in that country.
This is a brief explanation of the major differences:
Also known as ccTLDs (country code top-level domains) are great for connecting you
with customers within a specific region. They are among the most popular primary domain names for businesses of all kinds.
.com.au for Australia
.co.uk for United Kingdom
Also known as gTLDs (new top-level domains) will help create more awareness and interest in your business or brand.
We would suggest you register your industry-related domain along with your Country domain for maximum exposure.
.legal for the Legal profession
.insurance for the Insurance industry
Also known as TLDs (top-level domains) if you are targeting a market globally these domain types are best suited for
you. Most businesses or individuals register a Country Domain and Global domain together.
.com for a global commercial identity
.org for a not-for-profit organisation
.asn for an association