Michaelis constant, K m

Substance concentration of substrate at which the rate of reaction is equal to one half of the limiting rate (maximum rate). Notes
  1. Also called the Michaelis concentration
  2. The Michaelis constant (Michaelis concentration) may be used only when Michaelis–Menten kinetics is obeyed.
Source:
PAC, 1996, 68, 957 (Glossary of terms in quantities and units in Clinical Chemistry (IUPAC-IFCC Recommendations 1996)) on page 981