symmetric monoidal (∞,1)-category of spectra
Under the interpretation of modules as generalized vector bundles a module being locally free corresponds to the corresponding bundle being locally trivial bundle, hence a fiber bundle.
Since a trivial bundle corresponds to a free module, a locally free module is such that its localization to any maximal ideal is a free module.
An -module over a Noetherian ring is called a locally free module if there is a cover by ideals such that the localization is a free module over the localization .
For a commutative ring, an -module is called a stalkwise free module if for every maximal ideal the localization is a free module over the localization .
Let be a ring and Mod.
The following are equivalent
is finitely generated and projective,
is locally free, def. 1 and locally finitely generated.
For instance (Clark, theorem 7.20).
For a Noetherian ring and a finitely generated module over , is a locally free module precisely if it is a flat module.
By Raynaud-Gruson, 3.4.6 (part I)