The third law of thermodynamics states as follows, regarding the properties of closed systems in thermodynamic equilibrium: The entropy of a system approaches a constant value as its temperature approaches absolute zero. This constant value cannot depend on any other parameters characterizing the closed system, such as pressure or applied magnetic field. At absolute zero (zero kelvins) the system must be in a state with the minimum possible energy. Entropy is related to the number of accessible microstates, and there is typically one unique state (called the ground state) with minimum energy. In such a case, the entropy at absolute zero will be exactly zero. If the system does not have a well-defined order (if its order is glassy, for example), then there may remain some finite entropy as the system is brought to very low temperatures, either because the system becomes locked into a configuration with non-minimal energy or because the minimum energy state is non-unique. The constant value is called the residual entropy of the system. The entropy is essentially a state-function meaning the inherent value of different atoms, molecules, and other configurations of particles including subatomic or atomic material is defined by entropy, which can be discovered near 0 K.
The Nernst–Simon statement of the third law of thermodynamics concerns thermodynamic processes at a fixed, low temperature: The entropy change associated with any condensed system undergoing a reversible isothermal process approaches zero as the temperature at which it is performed approaches 0 K. Here a condensed system refers to liquids and solids.
A classical formulation by Nernst (actually a consequence of the Third Law) is: It is impossible for any process, no matter how idealized, to reduce the entropy of a system to its absolute-zero value in a finite number of operations.
There also exists a formulation of the third law which approaches the subject by postulating a specific energy behavior: If the composite of two thermodynamic systems constitutes an isolated system, then any energy exchange in any form between those two systems is bounded.