Live-set refers to any performance of electronic music that is generated live out of a bank of equipment or a laptop rather than a DJ mix, which is played from a pre-recorded medium, such as vinyl and CD with turntables or audio files with DJ software such as Traktor, Serato or VirtualDJ.
In some cases, advanced DJ mixes can include live-set elements, e.g. Traktor's remix decks, cue juggling, live re-sampling, etc.
Electronic music live-sets can also include live electronic instruments and singing.