If you were to merely make a copy for a friend, this would violate the license agreement.
You can install it on multiple systems you own. Download it through the App store, go to your other computer, open the App Store, log in with your Apple ID and download Lion again without having to pay again.
As found at: http://www.apple.com/legal/itunes/us/terms.html#APPS
MAC APP STORE PRODUCT USAGE RULES
Except as otherwise set forth herein,
ℹ You may download and use an application from the Mac App Store (“Mac App Store Product”) for personal, non-commercial use on any Apple-branded products running Mac OS X (“Mac Computer”) that you own or control.
(ii) If you are a commercial enterprise or educational institution, you may download a Mac App Store Product for use by either (a) a single individual on each of the Mac Computer(s) used by that individual that you own or control or (b) multiple individuals on a single shared Mac Computer that you own or control. For example, a single employee may use a Mac App Store Product on both the employee’s desktop Mac Computer and laptop Mac Computer, or multiple students may serially use a Mac App Store Product on a single Mac Computer located at a resource center or library. For the sake of clarity, each Mac Computer used serially by multiple users requires a separate license.
(iii) Use may require sign-in with the Apple ID used to download the Mac App Store Product from the Mac App Store. Mac App Store Products can be updated through the Mac App Store only.
So based on the information provided within the license agreement for the Apple App Store, you can use this on your own systems. The link I posted earlier is merely how to back up your purchase to a DVD or USB drive, so you can have a copy to reinstall without having to download another 3.49 GB file.