Posted 26 June 2011 - 11:55 AM
You pay for the right to use a domain name for a period of time. You do not actually own it. As far as website content, you own that (mostly). There are some exceptions to that, depending on your hosting company. You would actually have to read the terms and services contact to determine the guidelines for a particular host.
My best advice to you, given your current level of how things work on the web is to hire someone to to do this for you. Or prepare to spend a lot of time doing research, especially if you are talking about rolling your own website. Check and see if there is a local university that may have some students willing to do some work for you.