.NET Framework (pronounced dot net) is a software framework developed by Microsoft that runs mainly on Microsoft Windows. It contains a large class library named Framework Class Library (FCL) and provides language interoperability, meaning each language can use code which has been written in a different language.
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Programs that have been written for .NET Framework execute in a software environment – as opposed to a hardware environment – named Common Language Runtime (CLR). FCL and CLR together are what constitute .NET Framework.
CLR is an application virtual machine which provides services such as memory management, exception handling and security. As such, any computer code which has been written using .NET Framework is called “managed code”.