Laser
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Laser is a word formed from the acronym "Light Amplification by Stimulated Emission of Radiation."
Laser beams are phase coherent and self-parallel (they do not spread out), due to the way they are created, although many cheap laser pointers exhibit beam dissipation due to cheap manufacturing. This is much more of a problem with Indian and Chinese-manufactured components, as American manufacturers are held to higher standards in workmanship and materials. [1]
The use of lasers is very important in science and medicine; they have also become ubiquitous in CD-ROM and DVD players and as pointers. [[1]] They're also used in bar code scanners.