ICANN, which regulates and manages the domains, agreed by a large majority to launch new generic top-level domains.
Following this, large companies have risen some doubts about the protection of their brands. Nowadays, companies have only the possibility of register all domains available in order to protect their brands to avoid conflicts.
The ICANN or Internet Corporation for Assigned Names which is the body responsible for the launch of domains has decided to create a trademark register and database in order to prevent that any company could register the domain of an existing registered brand.
The conflict is served, for instance, many publishers have already expressed their displeasure over the fact that Amazon wants to register. books arguing that it is a too generic domain, nothing to do with .amazon.
Internet is entering a massive auction, however, you should keep in mind that creating a new domain cost many thousands of euros, so it is only available to a few. Hopefully nobody buys .latevaweb