What does 'managed' mean in the .NET context?

The term ‘managed’ is the cause of much confusion. It is used in various places within .NET, meaning slightly different things. Managed code: The .NET framework provides several core run-time services to the programs that run within it - for example exception handling and security. For these services to work, the code must provide a minimum level of information to the runtime. Such code is called managed code. Managed data: This is data that is allocated and freed by the .NET runtime’s garbage collector.