A brief definition of 'the Internet of Things' from the greatest online encyclopedia...er, online, Wikipedia.org.
"There is no established term to describe the subject of this article. Until one emerges it will be referred to as object hyperlinking. The purpose...is to extend the internet to objects and locations in the real world; to create an internet of things. The current internet does not extend beyond the electronic world. Object hyperlinking aims to extend the internet to the real world by attaching tags with URLs to tangible objects or locations. These tags can then be read by a wireless connected mobile device and information about objects and locations retrieved and displayed."
For the article in depth, visit http://en.wikipedia.org/wiki/An_internet_of_things