Stands for the "Institute of Electrical and Electronics Engineers." This is a non-profit organization that develops, defines, and reviews electronics and computer science standards. Though it is a U.S. based organization, standards developed by the IEEE often become International standards. Some examples of commonly-used products standardized by the organization are the IEEE 1284 interface (a.k.a. Parallel Port), which many printers use, and the IEEE 1394 interface (a.k.a. Firewire), which is a super-fast connection for digital video cameras, hard drives, and other peripherals.
The IEEE describes itself as "the world's largest technical professional society -- promoting the development and application of electrotechnology and allied sciences for the benefit of humanity, the advancement of the profession, and the well-being of our members." Perhaps they could standardize a more simplified definition of their organization...