A widget is an interactive single purpose application for displaying and/or updating local data or data on the Web, packaged in a way to allow a single download and installation on a user's machine or mobile device. A widget may run as a stand alone application (meaning it can run outside of a Web browser), or may be embedded into a Web document.
You can get complete detail on widget at:
http://www.w3.org/TR/widgets-reqs/
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