as I want to start to decouple some of the most-used topics at Lotusphere - this is definitely the most-heavily used term.
I found the Wikipedia-Definition quit good - find the article here... .
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In computing, the term composite application expresses a perspective of software engineering that defines an application built by combining multiple services. A composite application consists of functionality drawn from several different sources within a service oriented architecture (SOA). The components may be individual web services, selected functions from within other applications, or entire systems whose outputs have been packaged as web services (often legacy systems).
Composite applications often incorporate orchestration of "local" application logic to control how the composed services interact with each other to produce the new, derived functionality. WS-CAF is a Web services standard for composite applications.
Some examples of composite applications include: