By definition the derivative of a function in a point c is
lim [f(c+h)-f(c)]/h
h->0
If the limit exist we can say that the derivative in point c is the result of the limit, but if a limit exists them the left and right hand limits are equal as chiro said.
If you are working on a [a,b] you can not define the derivative of f in a or b because of the definition of limit (epsilon-delta definition) since the function is not defined in a +- delta interval around a or b, but working of (a,b) is totally legal because exists a delta interval around any point in (a,b) where the function is defined .
In a the left hand limit does not exist because of definition them the derivative of f in a it is not defined.
The derivative function is a function that assigns to x the derivative of f in x, so for an interval [a,b] if we can get the derivative of f we get it at most just in the interval (a,b), so the derivative function is just defined in (a,b).
x^(1/2) is defined in x=0, but the derivative does not exist in x=0 because the limit does not exist, because an interval -δ<0<δ with δ>0, where the function is defined does not exist since x^(1/2) is not defined for x<0.
Everything I wrote is for single variable real functions.