failure

(1) The loss of the ability of a component to meet the electrical or physical performance specifications that (by design or testing) it was intended to meet.

(2) A component that has failed.

(3) The lack of the ability of a component to meet the electrical or physical performance specifications that (by design or testing) it was intended to meet. (Adapted from Merriam-Webster's Collegiate Dictionary.)

References: 

JEP131A, 5/05
JESD659B, 2/07

JEP131A, 5/05
JESD659B, 2/07