The Lorentz Factor is a mathematical term used in the theory of relativity, formulated by Hermann Minkowski and based on the work of Albert Einstein. It describes how time, length, and relativistic mass change for an object moving close to the speed of light compared to an observer at rest. The formula is expressed as γ (gamma) = 1 / √(1 - v²/c²), where v is the object's velocity and c is the speed of light. As an object's speed approaches the speed of light, the Lorentz Factor increases significantly, leading to effects such as time dilation and length contraction. This means that time appears to pass more slowly for the moving object, and its length appears shorter to the stationary observer. These effects are crucial for understanding high-speed phenomena in physics.