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Web Parts can be used to create custom modules which can make interaction easier with the site.

A Web Part, also called a Web Widget, is an ASP.NET server control which is added to a Web Part Zone on Web Part Pages by users at run time.

Web Parts can be used as an add-on ASP.NET technology to Windows SharePoint Services.

Web Parts are equivalent to Portlets, but don't necessarily require a web portal such as SharePoint to host them.