Update

JavaScript now supports the nullish coalescing operator (??). It returns its right-hand-side operand when its left-hand-side operand is null or undefined, and otherwise returns its left-hand-side operand.

Old Answer

Please check compatibility before using it.

The JavaScript equivalent of the C# null coalescing operator (??) is using a logical OR (||):

Copyvar whatIWant = someString || "Cookies!";

There are cases (clarified below) that the behaviour won't match that of C#, but this is the general, terse way of assigning default/alternative values in JavaScript.

Clarification

Regardless of the type of the first operand, if casting it to a Boolean results in false, the assignment will use the second operand. Beware of all the cases below:

Copyalert(Boolean(null)); // false
alert(Boolean(undefined)); // false
alert(Boolean(0)); // false
alert(Boolean("")); // false
alert(Boolean("false")); // true -- gotcha! :)

This means:

Copyvar whatIWant = null || new ShinyObject(); // is a new shiny object
var whatIWant = undefined || "well defined"; // is "well defined"
var whatIWant = 0 || 42; // is 42
var whatIWant = "" || "a million bucks"; // is "a million bucks"
var whatIWant = "false" || "no way"; // is "false"

For now you have to do this like:

(this.state.updateItem || {}).unit || 'Unit'

There is a stage one proposal to ES (JavaScript) for optional chaining whereby we'll (eventually, hopefully) be able do do something like this:

this.state.updateItem?.unit || 'Unit'

And if you're doing babel you can use it now!:
https://www.npmjs.com/package/babel-plugin-transform-optional-chaining

Edit: The proposal is now in stage 4 (as of January 2020) and will be added into the JavaScript standard

The OR operator || uses the right value if left is falsy, while the nullish coalescing operator ?? uses the right value if left is null or undefined.

These operators are often used to provide a default value if the first one is missing.

But the OR operator || can be problematic if your left value might contain "" or 0 or false (because these are falsy values):

console.log(12 || "not found") // 12
console.log(0  || "not found") // "not found"

console.log("jane" || "not found") // "jane"
console.log(""     || "not found") // "not found"

console.log(true  || "not found") // true
console.log(false || "not found") // "not found"

console.log(undefined || "not found") // "not found"
console.log(null      || "not found") // "not found"

In many cases, you might only want the right value if left is null or undefined. That's what the nullish coalescing operator ?? is for:

console.log(12 ?? "not found") // 12
console.log(0  ?? "not found") // 0

console.log("jane" ?? "not found") // "jane"
console.log(""     ?? "not found") // ""

console.log(true  ?? "not found") // true
console.log(false ?? "not found") // false

console.log(undefined ?? "not found") // "not found"
console.log(null      ?? "not found") // "not found"

While the ?? operator isn't available in current LTS versions of Node (v10 and v12), you can use it with some versions of TypeScript or Node:

The ?? operator was added to TypeScript 3.7 back in November 2019.

And more recently, the ?? operator was included in ES2020, which is supported by Node 14 (released in April 2020).

When the nullish coalescing operator ?? is supported, I typically use it instead of the OR operator || (unless there's a good reason not to).

|| is a logical or. It returns the first truthy operand* (the last value evaluated). So

var myHeader = headers || {'Content-type':'text/plain'};

Returns "headers" if it's truthy (and if it's null or undefined, that value is coreced into "false"). If it's falsey, it returns the second operand. I don't believe this has a very specific name in javascript, just something general like "default argument value".

| is a bitwise or. It is a mathematical operation and does something completely different. That operator doesn't even make sense here (and it will generally just produce 0 as a result). Wherever you saw that, it was surely a typo, and they meant to use logical or.

So go with that first method (a = b || c).

* "Logical or" is also known as "logical disjunction" or "inclusive disjunction". Javascript, like all programming languages, evaluates logical statements using short-circuit evaluation. With logical-or expressions, it evaluates each operand for truthiness and stops on the first true one (and returns that value). If there are no truthy operands, it still had to go through all of them, so it returns the last operand, still the last one it evaluated. Logical and (&&) is similarly short-circuited by stopping on the first falsey operand.