This was a question raised by one of the software engineers in my organisation. I\'m interested in the broadest definition.
After reading the excellent up-voted answers, I found that the following point needed emphasis for me, a newcomer to network programming:
TCP-IP connections are bi-directional pathways connecting one address:port combination with another address:port combination. Therefore, whenever you open a connection from your local machine to a port on a remote server (say www.google.com:80), you are also associating a new port number on your machine with the connection, to allow the server to send things back to you, (e.g. 127.0.0.1:65234). It can be helpful to use netstat to look at your machine's connections:
> netstat -nWp tcp (on OS X)
Active Internet connections
Proto Recv-Q Send-Q Local Address Foreign Address (state)
tcp4 0 0 192.168.0.6.49871 17.172.232.57.5223 ESTABLISHED
...