A mobile agent is a program that can migrate between hosts, performing processing at each one. It decides when and where to move next through a three step process of saving its state, transporting itself, and resuming. Mobile agents have attributes like state, code, and origin information. Mobility can be weak, restarting execution from the beginning on each move, or strong, continuing execution from the previous point. Events in a mobile agent's lifecycle include creation, dispatch, cloning, deactivation, activation, retraction, disposal, and communication. Mobile agents reduce network load, overcome latency, encapsulate protocols, adapt dynamically, execute asynchronously, and are fault tolerant.