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"Open source software" Definition:
Open source software (OSS) began as a marketing campaign for free software. OSS can be defined as computer software for which the human-readable source code is made available under a copyright license (or arrangement such as the public domain) that meets the Open Source Definition. This permits users to use, change, and improve the software, and to redistribute it in modified or unmodified form. It is very often developed in a public, collaborative manner. Open source software is the most prominent example of open source development and often compared to user generated content. A report by Standish Group says that adoption of open source has caused a drop in revenue to the proprietary software industry by about $60 billion per year.
(This definition is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Open source software".)

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