Hmmm possibly your graphics card is too low end... but assuming its an integrated video chipset, as most laptops do, then it'd have to be a pretty old one (>3 years) to choke in Freelancer. What chipset is it? Try setting to 800x600 resolution and see if that helps....
My advice is the usual thing: make sure your video drivers are the latest, etc. Are you running Vista by chance? (Vista --> bad). Also make sure DirectX is running correctly: Start->Run->dxdiag.exe, then click the Display tab and run the tests therein.
Let us know how it goes...
o.
EDIT: Sorry not quick enough... To see what your graphics is, right-click the desktop and click Properties. Then select Settings tab, then hit Advanced, then select Adapter. That page should tell you what it is.
