Intranet is shared content accessed by members within a single organization.

Extranet is shared content accessed by groups through cross-enterprise boundaries. Internet is global communication accessed through the Web.

Summary: The Internet, extranets, and intranets all rely on the same TCP/IP technologies. However, they are different in terms of the levels of access they allow to various users inside and outside the organization and the size of the network. An intranet allows for restricted access to only members of an organization; an extranet expands that access by allowing nonmembers such as suppliers and customers to use company resources. The difference between the Internet and extranets is that while the extranet allows limited access to nonmembers of an organization, the Internet generally allows everyone to access all network resources.

Internet refers to the world-wide collection of independent networks, connected via routers to each other for communication purposes. Intranet refers to a collection of networks within a logical body, such as a building, corporation or other entity. Intranets can be as simple as two computers connected at home to each other, or as vast as 1000 branch offices of a bank, connected via privately owned, non-public network links. Intranets usually have a firewall and router, which permits access to the public Internet, while protecting the internal Intranet from malicious users.
This is a network that is not available to the world outside of the Intranet. If the Intranet network is connected to the Internet, the Intranet will reside

behind a firewall and, if it allows access from the Internet, will be an Extranet. The firewall helps to control access between the Intranet and Internet to permit access to the Intranet only to people who are members of the same company or organisation.

Extranets are collaborative meta-networks which are set up between two or more Intranets to facilitate business or research communication. An example would be General Motors and the many subcontractors that supply GM with parts for their products. GM and it's partners establish links to tie each others Intranets together to better serve each others needs, such as secure communications for financial transactions, parts ordering, etc. Another example would be the Federal Reserve Bank, which maintains an Extranet connected to each of it's constituent banks for the transfer of funds.
An Extranet is actually an Intranet that is partially accessible to authorised outsiders. The actual server (the computer that serves up the web pages) will reside behind a firewall. The firewall helps to control access between the Intranet and Internet permitting access to the Intranet only to people who are suitably authorised. The level of access can be set to different levels for individuals or groups of outside users. The access can be based on a username and password or an IP address (a unique set of numbers such as 209.33.27.100 that defines the computer that the user is on).