A biochemical receptor is a protein that recognizes a signal and couples its detection to a biological effect. Its binding partner is a ligand; recognition depends on compatible shape and chemical interactions at a binding site within the protein structure. Specificity is selective recognition, not a guarantee that only one ligand can bind. Binding also need not activate the receptor: a competing ligand may occupy it while preventing activation by another ligand. See Alberts et al., Molecular Biology of the Cell, 4th edition: protein binding and specificity.
Compare a cell-surface receptor, accessible to an extracellular ligand, with an intracellular receptor, whose ligand must reach the interior. A cell-surface receptor can detect a hydrophilic ligand without transporting it through the cell membrane. In contrast, some membrane-permeable signals reach intracellular receptors that regulate gene expression. Location and downstream coupling are separate distinctions: an ionotropic receptor directly gates an ion channel, whereas a metabotropic receptor works through intracellular signal transduction. See Clark, Douglas and Choi, Biology 2e, 9.1: receptor locations and mechanisms.
Receptor binding occupancy quantifies recognition separately from response. A dissociation constant measures binding in a specified equilibrium model; it does not by itself predict the cellular effect. This separation is useful when comparing signals that bind equally well but produce different responses, or when interpreting a binding experiment alongside a functional measurement.
