I am sorry but you are not 100% correct .May be that Wikipedia link help you. In brief link-baiting means providing such kinda attracting info and services on your site which inspire other people to link your site.
link baiting usually employs thee technique of using something controversial, you entice people to link to you by making them mad or super glad, but usually I would try to start a big fight about the topic at hand and tthen have two sides of the argument linking in,
Writing an article which is shocking, controversial, funny, good resource, etc for the purpose of getting natural links. Link baiting can be very hit and miss.
it doesn't always have the be an article, it can be any sort of viral content, like a flash game related to the subject of your website, a widget, a useful list.. but it has to be Unique, Creative and FUN in order for the bait to be successful.
Link baiting is doing anything you can think of to get others to link to you. It involves breaking news, writing original and useful stuff, and a lot of other creative ideas. Seriously, look around and think about all the ways you can make somebody link to you, there's a ton of them. But you can bet you're not going to find them being given away on this forum. Think for yourself, that's what works.
Exactly, creative thinking is a very valuable resource in link baiting - it's a shame there is so little emphasis on creative thinking at school.