Parked or Addon - which do I pick?

[tglaz]

I have two domains that I want to point to the same website (the business if known by two names). I see in cpanel that I can "park" the domain or make it an addon (and does this automatically become a subdomain?). I'm not sure what I want to do. At this point I don't see making separate sites, so parked sounds good, but I'm wondering about effecting my page rank.

Do search engines penalize for having two domains point to the same site - does a 301 redirect remedy this (should you do a 301 direct on a parked site, an addon site)?

[felgall]

Doing a 301 redirect on a parked domain is the correct way to point both to the same site and tell search engines that they are the same.