Binomial nomenclature is the formal system of naming species in zoology using a two-part Latinized name. The first part represents the genus name, while the second part denotes the specific epithet. This system was developed by Carl Linnaeus in the 18th century and provides a standardized method for identifying and classifying animal species worldwide. Each species receives a unique binomial name that distinguishes it from all other organisms, ensuring clear scientific communication across different languages and cultures.