  We introduce and study in some detail the properties of a novel class of
Weyl-conformally invariant p-brane theories which describe intrinsically
lightlike branes for any odd world-volume dimension. Their dynamics
significantly differs from that of the ordinary (conformally non-invariant)
Nambu-Goto p-branes. We present explicit solutions of the Weyl-invariant
lightlike brane- (WILL-brane) equations of motion in various gravitational
models of physical relevance exhibiting various new phenomena. In D=4 the
WILL-membrane serves as a material and charged source for gravity and
electromagnetism in the coupled Einstein-Maxwell-WILL-membrane system; it
automatically positions itself on (``straddles'') the common event horizon of
the corresponding matching black hole solutions, thus providing an explicit
dynamical realization of the membrane paradigm in black hole physics. In
product spaces of interest in Kaluza-Klein theories the WILL-brane wraps
non-trivially around the compact (internal)dimensions and still describes
massless mode dynamics in the non-compact (space-time) dimensions. Due to
nontrivial variable size of the internal compact dimensions we find new types
of physically interesting solutions describing massless brane modes trapped on
bounded planar circular orbits with non-trivial angular momentum, and with
linear dependence between energy and angular momentum.
