Yeah there are many, but the two you will hear about the most are LEO and GSO.
LEO is Low Earth Orbit, and is basically right at the edge of space. This is close enough that they can bounce signals around the Earth quickly, but far enough that there is not a lot of atmosphere. These tend to fall out of space pretty easily unless they have some onboard boosters to adjust their orbit, as otherwise the thin air does eventually slow them down.
GSO is Geo-Synchronous Orbit, and is far enough away that the orbital period is perfectly matched to the earth’s rotation. That can be useful for all sorts of reasons, such as maintaining continuous contact above a fixed point on the equator.