Plain English Meaning
Getting the airplane off the ground and safely climbing away from the airport. It covers the roll down the runway, lifting off, and the climb until you are clear of the airport environment.
Full Definition
The phase of flight that begins with the application of takeoff power on the runway and ends when the airplane has climbed to a safe altitude and transitioned into the en route or cruise climb. It includes the takeoff roll, lift-off, initial climb, and any prescribed departure procedure used to leave the airport area.