Lipids are a group of naturally occurring molecules that include fats, waxes, sterols, and fat-soluble vitamins. They serve important functions like storing energy, signaling, and as structural components of cell membranes. The document defines lipids and discusses their chemistry, classifications, structures, and biological importance. Key points covered include that lipids are insoluble in water but soluble in organic solvents, and include triglycerides, fatty acids, and other compounds.