A Lagrange Point is a position in space where the gravitational forces of two large bodies, like the Earth and the Moon, balance with the centripetal force felt by a smaller object. This allows the smaller object to maintain a stable position relative to the two larger bodies. There are five such points, labeled L1 through L5, each with unique characteristics. For example, the L1 point between the Earth and the Sun is ideal for solar observatories, as it provides a constant view of the Sun without the interference of Earth's atmosphere. These points are named after the mathematician Joseph-Louis Lagrange, who studied them in the 18th century.