Came across this very informative stuff, so sharing here.
If you, by opening the throttle too far, make a torque request that overwhelms the ability of this contact patch to transmit force, the contact patch of the tire will begin to slide relative to the pavement.
As the tire fails to push back against the cornering load, the motorcycle begins to rotate on its yaw axis. Here you've got three options. You can request the same amount of torque and the motorcycle will continue its rotation, terminating in a low-side crash. You can abruptly chop the throttle and as the contact patch force returns, the yaw rotation will convert to an abrupt roll rotation and a resulting high-side crash. Or you can modulate a delicate and nuanced intermediate throttle position that allows the tire to climb gradually and controllably back to the slip peak.
Kawasaki, Yamaha, Ducati, Aprilia, BMW and MV Agusta have now introduced motorcycles with factory traction-control algorithms that, when necessary, preempt your imprudent torque request and attempt to keep your tire, not your leathers, in contact with the pavement.
Dunlop illustrates the change in tire's contact patch at various lean angles:
Kawasaki was the first Japanese manufacturer to equip their bikes with traction control:
Now the 2012 R1 also offer six levels of traction control:
Ducati engineers have gone slightly further than the two Japanese manufacturers in their thrust-force pursuit - they've added a single accelerometer, measuring the longitudinal acceleration of the bike.
Kawasaki is the simplest of all the systems. Yamaha is slightly more complex than Kawasaki, with a similar sensor package, but adding an electronically-controlled throttle. Ducati's sensor package includes a single inertial sensor but without an electronic throttle (pre-Panigale). Aprilia and BMW deliver the most complexity, each with electronic throttles and four inertial sensors. We should be careful to point out, though, that complexity can only be justified in any system if its costs (more time to develop, more software to support, more parts to purchase, and more failures to tolerate) are offset by increased capability.