Leonard Peikoff discusses the concept of “objectivity” — presenting its definition and showing how the concept arises and where it belongs in Objectivism’s hierarchical structure. The lecture shows how Ayn Rand’s unique theory of concept formation leads to a proper understanding of the concept of “objectivity” and to a theory of knowledge radically different from the prevailing alternatives of intrinsicism versus subjectivism. Peikoff argues that the issue of objectivity takes one to the heart of the philosophy of Objectivism and explains why Rand chose “Objectivism” as the name of her philosophy.