The Problem
A big problem with rockets is the fuel used to accelerate the rocket has mass, lots of it, so as you add more fuel, you add more mass, and acceleration becomes tougher. As a result, you get the Tsiolkovsky's rocket equation:
(Thanks to users Gavilan, Jorrie, and others for help with this)
where the velocity increases only by the natural log of the mass of the fuel.

So basically chemical fuel is doable for orbital missions where velocities aren't too high relatively speaking (pun intended), but once you start talking about the distances between stars (4 LY>) and the speeds required for reasonable missions to other stars, chemical fuel fails and different methods must be used.
Using the Momentum of Photons
Light is made up of wavelike particles called photons. Although photon of light has no mass, it does have momentum, given by the equation:

If you shot a laser off the back of a ship, due to conservation of momentum, the ship would feel a force in the opposite direction. Momentum of photons increase with decreasing wavelength (λ), meaning more force on the ship is produced by gamma rays than say Infrared Light.
Of course, you don't have to use just one laser to produce thrust. Many may be used so that a much larger thrust is produced. The trick has been trying to get this laser drive to be reliable and efficient.
The Problem - Not very efficient
Since photons don't have much momentum, even gamma rays, they aren't a very efficient way of producing thrust. However they scale well (work just as well producing large ΔV's as the do producing small ΔV's).
By bouncing photons between two ships over and over again, one can coax more momentum out of them and improve efficiency. Young Bae, founder of the Bae Institute in Tustin, Calif., first demonstrated his photonic laser thruster (PLT), which he built with off-the-shelf components, in December. (see link) The force produced by such a drive is on the order of microNewtons (μN), not very impressive in terms of magnitude, but precise and demonstrating an important idea, reusing photons. http://www.photonics.com/content/news/2007/September/7/88894.aspx
"For decades, rocket scientists have tried to overcome the inefficiency of photon thrusters by amplification based on optical cavities separated from laser sources, but failed," the institute said. "In contrast, Bae's PLT (patent pending) places the laser medium within a resonant optical cavity between two platforms to produce a very stable and reliable thrust that is unaffected by mirror movement and vibration -- ideal for spacecraft control or propulsion."
The Question I'm Asking CR4
Can this type of drive be used to produce reasonable thrust for travel over long distances (the distance between stars)? Equations and opinions welcome.