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The Lense-Thirring effect is an effect on precession of a rotating object (such as a gyroscope) within the gravitational field of a rotating body, a general relativity (GR) phenomenon. It is due to frame dragging and can be described using the gravitoelectromagnetism model. The effect has been checked for in some orbits around compact objects. The satellite series, LARES, aims to detect it in Earth orbit.
A different general-relativity effect on such precession, de Sitter precession, results from any massive body, whether rotating or not.