Holomorphic discs and sutured manifolds

In this paper we construct a Floer-homology invariant for a natural and wide class of sutured manifolds that we call balanced. This generalizes the Heegaard Floer hat theory of closed three-manifolds and links. Our invariant is unchanged under product decompositions and is zero for nontaut sutured manifolds. As an application, an invariant of Seifert surfaces is given and is computed in a few interesting cases.