The G&L stand for George and Leo. Of course this would be George Fullerton and Leo Fender. Leo Fender started the company around 1980 about 10 years after he sold the Fender company to the BBC. The conditions of the sale said that Leo couldn't design or produce guitars competatively for 10 yrs after the sale of the Company.
In these ten years Leo was constantly in his workshop Improving older creations that he had made when he was still with Fender. He devoldoped a tremolo bridge system called the DUAL FULCRUM TREMOLO. The improvements allowed for decreased string breakage, and allowed the player to loosen the strings so that they were literally flapping all over the place and release them still in perfect tune (also because of locking tuners). He also made a number of improvements in pickups too. He developed the porcelan pickups. Wich eliminated the buzz of the previously used singl-coils.
Below are some pictures of G&L guitars. NOTE: Leo still stuck with the strat and tele models, he even re-sculpted the head stock wich is similar to that of the Fender guitars.
Above is an ASAT CLASSIC.
Above is ans ASAT Z-3. The mirrored pick guard and the silver sparkle finish is awesome. This is the same Guitar that Art Alexakis of Everclear plays.
ASAT bass. I love the cool finish on this bass.
Leo's Pattented BI-CUT neck eliminated
the "skunk stripes" commonly seen on the back of most
fender necks. It also Reduce warping and twisting in the neck
quite drastically. When the neck was re-fitted together, the seem
is impossible to find.
The Invader. Has somewhat of a G&L/Jackson mix look to it.
The L1500 bass. G&L Basses are amazing, the sound awesome!
L2500 Bass.
Legacy Special. Notice the Pickups.
S-500.
Leo also began giving the guitars he disigned more finishing options, and used different woods to get different tones and sustain. There is virtually a model for everyone.
Some of the Artists that play G&L's are: Jerry Cantrell (Signature Model), Art Alexakis(ASAT Z-3) + Craig Montoya(ASAT BASS), Chris Joneau (ASAT BASS).
If you're looking for a fender style guitar buy a G&L. Compare the craftsmanship and quality and sound of a G&L to a Fender and You'll never touch a fender again.