Binomial nomenclature

What is Binomial Nomenclature?

Binomial nomenclature is the system used to identify all organisms on Earth, from elephants to algae. A binomial or scientific name identifies an organism by its genus and species, ensuring that everyone understands which organism is under discussion. Binomial nomenclature fits within the larger framework of taxonomy, the science of categorizing living organisms and assigning traits to them to understand the links and differences between them. The scientific name of an organism could be considered its definitive name, with scientific names being understood by scientists all over the world. You may also hear scientific names being referred to as “Latin names,” in a reference to the heavy use of Latin in taxonomy. However, it is also common to see Latinized names, typically honoring the person who discovered the organization, or the region in which it was discovered; for example, Branta canadensis is the Canadian Goose. Greek is also used in scientific names, often in a jumble with Latin which brings some classical scholars to tears.

References:

http://www.wisegeek.com/what-is-binomial-nomenclature.htm