This sums it up very well: From
http://forums.mikeholt.com/showthread.php?t=52458
Quote:
The current drawn by an induction motor is a function of the rotor speed. The applied voltage creates a rotating magnetic field. When the rotor is rotating at the same speed as this magnetic field, the input current is minimum.
When the rotor is stopped, the input current is a maximum. This is because the turning rotor produces a back EMF that reduces the input current. If the rotor is not turning, there is no back EMF, and the input current is the highest. This is refered to as the "locked rotor current" because it is the same current that would be drawn if the rotor were locked in place so it can't turn.
When a motor is first started, the rotor is stopped, so it draws the locked rotor current. The motor quickly starts turning, and the rotor current decreases. The current keeps droping until the rotor gets up to full speed. At that point the current is at minimum. (Full speed is slightly less than the speed of the rotating magnetic field, and depends on how much torque the motor must produce to turn the load).
In most cases, I think sizing the breaker at 250% of rated current is enough to prevent tripping on startup. It might not be enough if the motor load has a large amount of inertia, or if the motor has a particularly large locked rotor current.