In the past people used to wrap HTML comment tags around blocks of JavaScript in order to prevent "older" browsers from displaying the script. Even Lynx is smart enough to ignore JavaScript, so why do some people keep doing this? Are there any valid reasons these days?
<script type="text/JavaScript">
<!--
//some js code
-->
</script>
Edit: There is ONE situation I did encounter. Some code editors, such as Dreamweaver, get confused by quoted HTML inside a JavaScript string when in "design view" and try to display it as part of your page.