In Minnesota, which has close to 13,000 lakes that need to be supervised and regulated, the State Department of Natural Resources defines a lake as any body of water at least ten acres in area, and anything smaller being a pond.
Ecologists and botanists look at the effect wave action has on shoreline vegetation. Where waves can regularly grow to a size large enough to limit such vegetation the body of water is considered to be a lake. Where the body of water is too small to permit such waves from forming the plot of water would be called a pond.
Liminologists, those who study bodies of inland water, look more to the effect that the depth of water has on life forms. Where the depth is great enough to permit a stratification of water into upper and lower zones that are separated by a third zone (the thermocline) the body of water is usually considered to be a lake. Any body of water too shallow to permit such stratification is considered to be a pond. And, neither is dependent on size considerations.