The nature of the predicate in grammar is that it is one of the two parts of the sentence, the other being the subject, and its purpose is to provide some information about the subject, such as what it does or what the subject is like. 

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According to Frege, the sentence ‘Socrates is mortal’ can be analysed into the proper
name ‘Socrates’ combined with the one-place predicate ‘ξ is mortal’. It is
uncontroversial that the two items are governed by different grammatical rules of
combination. But Frege also introduced semantic distinctions between them that have
been contended ever since. He made them refer to different types of thing. The proper
name refers to an object, while the predicate refers to a concept, which he proceeded
to identify with a function from objects to truth-values, e.g. from Socrates to truth. His
distinction between objects and functions is exclusive: nothing can be both. He
marked the difference by saying that an object is complete or saturated, whereas a
function is incomplete or unsaturated. Proper names and predicates also differ in the
way in which they refer to their referents. Frege uses ‘refers to’ as an umbrella term
covering different relations, since his principle for individuating them dictates that the
reference relation holding between a proper name and an object is of a different type
from the relation holding between a predicate and a concept.