Buddhism was founded by Guatama (the enlighten one or Buddha). He was the son of a chief of a small town, found that he could no longer be pamper. Left his town and went on a search for life. Guatama had a Divine Revelation that was similar to the Upanishads.
Buddhists split into two groups that exist in Southeast Asia and India. Buddhism embraces the idea of Dharma, Karma and Nirvana.
The definition of Dharma is the faithful performance of one's own role.
The definition of Karma is merits and demerits earned as a result of actions - what goes around comes around, you reap what you sow. Another way to interpret Karma is whatever you do will come back to you and kick you in your rear end.
Nirvana means union with the Absolute Being.
At the council of Patna around 250 BCE, the authentic books of Buddhism were established. However, the complete compilation of Buddhism texts did not become complete until 80 CE.
Four Noble Truths
In Buddhism, the precepts that are the essence of the Buddha's teaching: that life is suffering, that desires cause suffering, that the annihilation of desires can relieve suffering, that the way to do this is by following the Eightfold Path;