A computer on the Internet is identified by its IP address. In order to avoid address conflicts, IP addresses are publicly registered with the Network
IP addresses give packets a place to originate, pass-thru and terminate.
Somewhat like a mailbox is a place for your mail to go, the IP is a place for packets to go.
IP addresses can be static, dynamic, public or reserved. And combinations thereof.
Static means you assign the IP address to a device. The device keeps the static IP address for an extended time frame. Leases for PUBLIC static IP addresses typically last one year, or until you terminate your contract with your provider, whichever comes first.
Dynamic means that the IP address can change at any time. Sometimes dynamic IPs change daily, or at reboots, sometimes they are maintained for long times also. You can not count on a PUBLIC dynamic IP to remain the same longer than the lease.
Reserved IP addresses are for your internal use only and are not IANA routable. No packets can be sent to or from the Internet directly from a reserved IP address. A public IP address is required to send packets to or from the Internet.
If you have a router you can assign static internal IP addresses to all of your computer systems and devices, or any portion of them. You can also assign dynamic internal IP address.
Information Centre (NIC). Computers on private TCP/IP LANs however do not need public addresses, since they do not need to be accessed by the public. For this reason, the NIC has reserved certain addresses that will never be registered publicly. These are known as private IP addresses, and are found in the following ranges:
From 10.0.0.0 to 10.255.255.255
From 172.16.0.0 to 172.31.255.255
From 192.168.0.0 to 192.168.255.255