Source : Webster's Revised Unabridged Dictionary (1913)

Base \Base\ (b[=a]s), v. t. [imp. & p. p. {Based} (b[=a]sd); p.
   pr. & vb. n. {Basing}.] [From {Base}, n.]
   To put on a base or basis; to lay the foundation of; to
   found, as an argument or conclusion; -- used with on or upon.
   --Bacon.

Based \Based\, p. p. & a.
   1. Having a base, or having as a base; supported; as,
      broad-based.

   2. [See {Base}, n., 18-21.] Wearing, or protected by, bases.
      [Obs.] ``Based in lawny velvet.'' --E. Hall.

Source : WordNet®

based
     adj 1: being derived from (usually followed by `on' or `upon'); "a
            film based on a best-selling novel"
     2: having a base; "firmly based ice"
     3: having a basis; often used as combining terms; "a soundly
        based argument"; "well-founded suspicions" [syn: {founded}]
     4: having a base of operations; "a company based in Atlanta"
        [syn: {based(p)}]