PageRank is a numeric value that represents how important a page is on the web. Google figures that when one page links to another page, it is effectively casting a vote for the other page. The more votes that are cast for a page, the more important the page must be. Also, the importance of the page that is casting the vote determines how important the vote itself is. Google calculates a page’s importance from the votes cast for it. How important each vote is is taken into account when a page’s PageRank is calculated.

PageRank according to Wikipedia:
PageRank is a link analysis algorithm that assigns a numerical weighting to each element of a hyperlinked set of documents, such as the World Wide Web, with the purpose of “measuring” its relative importance within the set. The algorithm may be applied to any collection of entities with reciprocal quotations and references. The numerical weight that it assigns to any given element E is also called the PageRank of E and denoted by PR(E).

The name PageRank is a trademark of Google. The PageRank process has been patented (U.S. Patent 6,285,999 ). The patent is assigned to Stanford University and not to Google. Google has exclusive license rights on the patent from Stanford University. The university received 1.8M shares in exchange of the patent. The shares were sold in 2005 for $336M.

The PR for a web page can vary between 0 and 10.PR is assigned to individual web pages, not to web sites. In other words, it is Page Rank, not Site Rank. A higher PR number will help you to score better in your SERPS, which will bring more visitors to your web page. PR is calculated using a complex secret formula which seems to be under constant change.In general, the more web pages that link to your web page, the higher the PR of your page will be.

Other factors which affect the PR of your web page include the PR of the pages which link to your page and the number of links on the pages which link to your page. A link from a PR7 page is worth more than a link from a PR6 page. A link from a PR5 page with two outbound links is worth more than a link from a PR5 page with six outbound links.

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