Defining a variable with or without export

Question

What is export for?

What is the difference between:

export name=value

and

name=value

Answer 1

Others have answered that export makes the variable available to subshells, and that is correct but merely a side effect. When you export a variable, it puts that variable in the environment of the current shell (ie the shell calls putenv(3) or setenv(3)).
The environment of a process is inherited across exec, making the variable visible in subshells.

Edit (with 5 year's perspective): this is a silly answer. The purpose of 'export' is to make variables "be in the environment of subsequently executed commands", whether those commands be subshells or subprocesses. A naive implementation would be to simply put the variable in the environment of the shell, but this would make it impossible to implement export -p.