Merriam-Webster defines it as "a major written assignment in a school or college course representative of a student's achievement during a term".
[1] Term papers are generally intended to describe an event, a concept, or argue a point.
It is a written original work discussing a topic in detail, usually several typed pages in length, and is often due at the end of a semester.
Term papers date back to the beginning of the 19th century when print could be reproduced cheaply and written texts of all types (reports, memoranda, specifications, and scholarly articles) could be easily produced and disseminated.
[3] In the present day an entire industry has sprung up to provide plagiarized, pre-written or custom written term papers for students of varying levels of education.