What is baitware?
Baitware is a freely available software utility with very limited functionality. Often poorly coded bait ware allows a software developer to release a limited version of the software in order to entice target users to purchase the full version of the software.

Baitware is a type of freeware, or shareware Liteware with much lower quality and functionality than its complete software counterpart. As with other types of freeware, vendors and developers target end users with 'bait' versions of software. After downloading, installing and using the baitware version, the user will be tricked into purchasing the paid version.

Baitware is also used by email spammers who distribute free software in exchange for email addresses.

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Further explanations for the initial letter B