The IEEE symbol is composed of a four-sided “kite”, commemorating Benjamin Franklin’s famous experiment in electricity.  The central feature is the straight and curved arrows, symbolizing the right-hand rule of electromagnetism. 

The IEEE was formed in 1963 as a merger of the American Institute of Electrical Engineers (AIEE) and the Institute of Radio Engineers (IRE).  The “kite” portion of the design was inherited from the AIEE, while the right-hand rule icon was adopted from the IRE.