You're not the only one that didn't know how important owning your domain is. At lotzabuzz, we make sure when we register your domain name that all contact info for the domain is in your business name. This is especially important if you ever need to move your domain to another server, or simply need to prove ownership of the domain name.
On another note, make sure that you keep your domain renewed. It only costs about $15 a year. It is a small price to pay to keep your presence on the internet.
We recently encountered a customer that let their domain name lapse and did not renew it when then should have. The domain is now worth $1,800.
