What is Gibbs free energy and why is it significant in chemical reactions?

Gibbs free energy is the energy stored in the chemical bonds of reactants.

Gibbs free energy is the energy associated with a chemical reaction that can be used to do work, and it determines the spontaneity of the reaction.

Gibbs free energy is the energy required to break chemical bonds in a reaction.

Gibbs free energy is the total energy of a system, including kinetic and potential energy.