The CLASSPATH value specifies the classpath for the weblogic_sp.jar, weblogic.jar, and in case you are using PointBase, the client and server JAR files for PointBase should also be included in the classpath.

CLASSPATH – It contains the paths of class files which are stored. For example:

CLASSPATH="C:Program FilesJavajdk1.7.0_51jrelibrt.jar"

PATH: It contains the path for the executables For exmaple:

PATH="C:WindowsSystem32notepad.exe"

PATH is the OS related. It contains executable file information like bin etc. CLASSPATH is also related to OS only but it contains information like ZIP, JAR file.

PATH=$PATH: [JDK bin path]
CLASSPATH=$CLASSPATH: [WL-Homeserverlib]

Set PATH as follows:

$ export PATH=$PATH:/usr/java/jdk1.5.0_07/bin

To check the path Env variable(view the contents of PATH):

WebLogic Server installs the following script that you can use to set the classpath that a server requires:

WL_HOMEserverbinsetWLSEnv.cmd (on Windows)
WL_HOME/server/bin/setWLSEnv.sh (on UNIX)
PATH=$PATH: [JDK bin path]
CLASSPATH=$CLASSPATH: [WL-Homeserverlib]

WebLogic Server installs the following script that you can use to set the classpath that a server requires:

WL_HOMEserver_insetWLSEnv.cmd (on windows) 
WL_HOME/server/bin/setWLSEnv.sh (on UNIX)