Localization of a Ring
Let be a Ring, and a subset of . The localization of with respect to , denoted , is the universal way to Invert every .
Universal property
A ring homomorphism inverts if the Image of under is contained in the Group of Units . More explicitly, for every ; is Invertible in .
Consider the Full Subcategory of the Coslice Category spanned by all -inverting maps; the localization is an Initial Object in this category.
More explicitly, a ring homomorphism factors through the localization if and only if , and such factorizations are unique.
Nicer Versions
If is an Ore Set of the multiplicative monoid of , then we can represent elements of the localization with fractions instead of long multiplications of formal inverses.
Moreover, if is a Submonoid of the Center of , then we can construct the localization with a Commutative Localization of a Ring.