There are multiple origins and meanings for the name:
1. Derived from the Latin name (lares) meaning - "lares and penates".
Lares - were guardian deities in ancient Roman religion.
Lares were believed to observe, protect and influence all that happened within the boundaries of their location or function. The statues of domestic Lares were placed at table during family meals; their presence, cult and blessing seem to have been required at all important family events. Roman writers sometimes identify or conflate them with ancestor-deities, domestic Penates and the hearth. Because of these associations, Lares are sometimes categorised as household gods but some had much broader domains. Roadways, seaways, agriculture, livestock, towns, cities, the state and its military were all under the protection of their particular Lar or Lares. Those who protected local neighbourhoods (vici) were housed in the crossroad shrines (Compitales) which served as a focus for the religious, social and political life of their local, overwhelmingly plebeian communities. Their cult officials included freedmen and slaves, otherwise excluded by status or property qualification from most administrative and religious offices.
2. Shortened form of the given name Larisa, Laura or of Clare, derived from the Latin word clarus - "clear, bright, gleaming; famous"