In this article, we study some important term characteristics and aspects of its rise and operation. It is shown that a significant number of terms have a dual role as they operate in a specific domain where they are customary and widely used, and in the common area where they have a highly specialized nature. It is conjectured that to carry out demarcation of the terms from the non-terms, it is expedient to take into account the fact that all terms are generally divided into two major groups: proper terms and terminological words. Morphological and semantic differences between terms and ordinary words are discussed. The national and international tendencies in terminology are reviewed. It is argued that a terminological neologism can and should be based mainly on the native lexical reserve. Also, the generalized attributes of an apt term are presented.