standard

A set of rules or specifications that, when taken together, define a software or hardware device.

A standard is also an acknowledged basis for comparing or measuring something. You will often see and hear this term used in discussions about the computer industry, as in, "That new technology is credited with creating a standard on the Internet." Standards are important because new technology will only take root once a group of specifications is agreed upon (otherwise, companies run the risk of developing a product that is not compatible with any other products).

For example, many companies are driving the development of Bluetooth because they agree on its standard, but one of the main reasons that iTV has been slow to develop is because of the lack of a single standard.