In SW:TOR there are orange items.  These are socketable items.  Socketed items can scale with you as you level.  All you need to do is to put new upgrades into them.  Like other games, you can input new upgrades to override old ones.  Unlike other games you can also right-click on upgrades that are already installed in an item and remove them without destroying the item or the upgrades.  (Takes a few credits to do this.)  One full set of socket items can last you from level 1 to 50 and be some of the best gear for you if you keep up with the upgrades for your level.  There are armor, guns & lightsabres for socketed items.

Armor	Guns	Lightsabres
armoring, mods & enhancements	barrels, enhancements, mods, & color crystals	hilts, enhancements, mods, & color crystals

Armoring controls the armor value of the item.  This value is modified by the weight of the item (light, medium, heavy). Barrels control the damage value of guns.  Hilts control the damage value of lightsabres.

Armstech	barrels
Artifice	hilts, enhancements & color crystals
Cybertech	mods & armoring
Slicing	augments

If you craft an item and crit on the craft check then the item will gain an augment slot.

Upgarde	Level there is a new upgrade
Armoring	Every odd level.
Hilt	Every odd level.
Barrel	Every odd level.
Mod	9, 13, 17, 21, 25, 29, 33, 37, 41, 45, 49
Enhancement	11, 15, 19, 23, 27, 31, 35, 39, 43, 47, 49
Color Crystal	7, 15, 23, 31, 39, 47