What does WOL on my motherboard mean?

Question

And what is it used for?

Answer 1

WOL is Wake On LAN. Basically is should be a 3 pin socket that allows you to remotely turn on a computer.

Some network cards have a cable that plugs in here (to the WOL Port), and if the the computer is set up on a network, another computer correctly configured, can be used to turn on the computer. After this point remote desktoping allows you to use the computer COMPLETELY remotely!