Plain English Meaning
It is the slowest speed at which a pilot can still keep a multiengine airplane pointed straight after one engine quits, measured under steady, simplified test conditions rather than during a real climb-out.
Full Definition
Static VMC is the minimum airspeed at which directional control of a multiengine airplane can be maintained on the ground when the critical engine suddenly becomes inoperative and the remaining engine is at takeoff power, with the nosewheel free to caster (or in the air at zero bank). It is determined under static, non-accelerating conditions and is generally lower than the airborne (dynamic) published for the .