L-canceling
L-cancelling is a technique in both SSB and SSBM for reducing the length of recovery animations after landing on the ground while performing an aerial attack. By pressing Z, L, or R slightly before landing on the ground, a player can reduce their recovery time by 50%, a significant increase that greatly increases a character's maximum rate of attack.
Technical details
To l-cancel, press L, R, or Z (only Z works in SSB) within 20 frames of landing on the ground while your character is performing an aerial attack. If performed correctly, your character's recovery animation (example: Link pulling his sword out of the ground after a down-aerial) will be played at twice its normal speed, effectively cutting your recovery time in half. If the number of frames of the lag divided by two ends with a decimal (i.e. 15/2 = 7.5), it will be rounded downwards. L-cancelling can only be used with aerial attacks involving the A button; it is impossible to L-cancel a B move.