The equation $$a = u - ts$$ represents the Helmholtz free energy, where 'a' is the Helmholtz free energy, 'u' is the internal energy, 't' is the temperature, and 's' is the entropy of the system. This relationship connects thermodynamic properties, illustrating how energy available for work decreases when a system's entropy increases at a given temperature. Understanding this equation helps in analyzing the spontaneity of processes and phase transitions.