What is a Release Candidate (RC)?

While looking at specification of a server machine, I found RC written after Windows Server 2008 HyperV. I, immediately, googled for it and found:

A release candidate is a version of a software program that is usually not in its final form. While the version is functional, it's not quite ready to offer for sale to the general public [].

Of beta version and RC, beta version is a precursor to RC and has more bugs

Once bugs have been removed from RC, the software goes to Release To Market/Manufacture (RTM) stage.