The Collaborative International Dictionary of English v.0.48:

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.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Based \Based\ (b[=a]sd), p. p. & a.
   1. Having a base, or having as a base; supported; as,
      broad-based.
      [1913 Webster]

   2. [See Base, n., 18-21.] Wearing, or protected by, bases.
      [Obs.] "Based in lawny velvet." --E. Hall.
      [1913 Webster]

WordNet (r) 3.0 (2006):

based
    adj 1: having a base; "firmly based ice"
    2: having a base of operations (often used as a combining form);
       "a locally based business"; "an Atlanta-based company";
       "carrier-based planes"