The Collaborative International Dictionary of English v.0.48:

Criticism \Crit"i*cism\ (kr?t"?-s?z'm), n.
   1. The rules and principles which regulate the practice of
      the critic; the art of judging with knowledge and
      propriety of the beauties and faults of a literary
      performance, or of a production in the fine arts; as,
      dramatic criticism.
      [1913 Webster]

            The elements ofcriticism depend on the two
            principles of Beauty and Truth, one of which is the
            final end or object of study in every one of its
            pursuits: Beauty, in letters and the arts; Truth, in
            history and sciences.                 --Brande & C.
      [1913 Webster]

            By criticism, as it was first instituted by
            Aristotle, was meant a standard of judging well.
                                                  --Dryden.
      [1913 Webster]

   2. The act of criticising; a critical judgment passed or
      expressed; a critical observation or detailed examination
      and review; a critique; animadversion; censure.
      [1913 Webster]

            About the plan of "Rasselas" little was said by the
            critics; and yet the faults of the plan might seem
            to invite severe criticism.           --Macaulay.
      [1913 Webster]

WordNet (r) 3.0 (2006):

criticism
    n 1: disapproval expressed by pointing out faults or
         shortcomings; "the senator received severe criticism from
         his opponent" [syn: criticism, unfavorable judgment]
    2: a serious examination and judgment of something;
       "constructive criticism is always appreciated" [syn:
       criticism, critique]
    3: a written evaluation of a work of literature [syn:
       criticism, literary criticism]