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Source: U.S. Department of Energy
Kinetic energy is the energy that a body possesses as a result of its motion. It is formally defined as the work needed to accelerate a body from rest to its current velocity. Having gained this energy during its acceleration, the body maintains this kinetic energy unless its speed changes. Negative work of the same magnitude would be required to return the body to a state of rest from that velocity.
Under certain assumptions, this work (and thus the kinetic energy) is equal to:
E_k = \begin{matrix} \frac{1}{2} \end{matrix} mv^2
where m is the object's mass and v is the object's speed.
Source: Wikipedia
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