The principle of the lightning rod was first detailed by Benjamin Franklin in Pennsylvania in 1749, who in the subsequent years developed his invention for household application (published in 1753) and further improvements towards a reliable system around 1760.

A lightning rod (US, AUS) or lightning conductor (UK) is a metal rod mounted on a structure and intended to protect the structure from a lightning strike. If lightning hits the structure, it will preferentially strike the rod and be conducted to ground through a wire, instead of passing through the structure, where it could start a fire or cause electrocution. Lightning rods are also called finials, air terminals or strike termination devices.

In a lightning protection system, a lightning rod is a single component of the system. The lightning rod requires a connection to earth to perform its protective function. Lightning rods come in many different forms, including hollow, solid, pointed, rounded, flat strips or even bristle brush-like. The main attribute common to all lightning rods is that they are all made of conductive materials, such as copper and aluminum. Copper and its alloys are the most common materials used in lightning protection.

More Info: en.wikipedia.org