Knockout is a standalone JavaScript implementation of the Model-View-ViewModel pattern with templates. Developed by Knockoutjs.com
License: Open Source
Polymer is a powerful library focused on modern web standards and custom elements, making it ideal for building reusable, component-based applications. In contrast, KnockoutJS is a lightweight library that excels in data binding and the MVVM pattern, making it more suitable for simpler applications. Both have their strengths, but the choice between them largely depends on the complexity and requirements of the project.