In MPLS networking, a Label Switched Path (LSP) is a path through an MPLS network, set up by a signaling protocol such as LDP, RSVP-TE, BGP or CR-LDP. The path is set up based on criteria in the forwarding equivalence class (FEC).
The path begins at a Label Edge Router (LER), which makes a decision on which label to prefix to a packet based on the appropriate FEC. It then forwards the packet along to the next router in the path, which swaps the packet's outer label for another label, and forwards it to the next router. The last router in the path removes the label from the packet and forwards the packet based on the header of its next layer, for example IPv4. Due to the forwarding of packets through an LSP being opaque to higher network layers, an LSP is also sometimes referred to as an MPLS tunnel.
The router which first prefixes the MPLS header to a packet is called an ingress router. The last router in an LSP, which pops the label from the packet, is called an egress router. Routers in between, which need only swap labels, are called transit routers or Label Switching Router (LSR)s.
Note that LSPs are unidirectional; they enable a packet to be label switched through the MPLS network from one endpoint to another. Since bidirectional communication is typically desired, the aforementioned dynamic signaling protocols can set up an LSP in the other direction to compensate for this.
When protection is considered, LSPs could be categorized as primary(working), secondary(backup) and tertiary (LSP of last resort). As described above, LSPs are normally P2P (Point to Point). A new concept of LSPs, which are known as P2MP (Point to Multi Point), was introduced recently. These are mainly used for multicasting purposes.