There is a nice (duality) characterization of the greatest common divisor (wiki) of two integers $a$ and $b$ known as the Bézout's identity: $gcd(a,b)$ is the smallest positive integer that can be written as $ax + by$.
Is there a similar characterization of the least common multiple of two integers $a$ and $b$ such as "$lcm(a,b)$ is the largest $\ldots$"?
You can use Bézout's identity and the following relationship between the greatest common divisor and the least common multiple to come up with a characterization of $lcm(a,b)$. $$gcd(a,b) \times lcm(a,b) = a\times b \quad... \;\;(1)$$ $$lcm(a,b) = \frac{ab}{ax+by}$$
However, I am not aware of any other characterizations.
EDIT:
Added proof of (1)