I usually leave a 4-6ft lead before my bobber to the BAIT...
Seriously, Link Bait is no so much a "noun" but rather an action.
It is drawing organic links with your content...thats all
Here is great article on how to get started, just remember your most dense, and important words will be what the search engines grab on to for indexing....make them count in your heading tags, bold pring, underlines, title, description, and links.
http://performancing.com/promotion/links/the-art-of-linkbaitingGL
Melanie