What is Objectivism
Objectivism is the name chosen by Ayn Rand for her philosophy to emphasize the importance of objectivity -- seeing reality for what it is. She described Objectivism as a philosophy for living on earth -- by which she meant that it was a philosophy grounded in reality with the purpose of enabling its adherents to better deal with reality. A common thread running through all of Objectivism is the sanctity of the individual, rational human being. In Rand's own words:
"My philosophy, in essence, is the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute."
(Taken from the Wikipedia article. Waiting for a real description.)
Objectivism is a closed system -- it consists of the philosophical writings of Ayn Rand (which she finished for publication) and those philosophical writings of other people which she specifically approved (for example the articles in the Objectivist Newsletter). The statements in this Wiki are not authoritative nor definitional of Objectivism.
There are philosophical truths which were not incorporated into Objectivism. And you should not assume without proof that everything in Objectivism is true.