Pages are a way for a non-person such as a brand, company, or group to communicate and participate in Google+ without breaking Google+’s Terms of Service. You have access to every feature and function within Google+ when using it as a Page, including Hangouts. Every action you perform in Google+ as a page is represented as the page, not your person and name. Pages can currently support one owner and 49 managers, and ownership is transferable.
One major difference between accounts and Pages is that Circles work a bit differently. The major difference being, as a page, you cannot circle someone that has not circled you first. It seems to be an anti-spam mechanism, which means you have to work harder to earn your followers. Pages are explained in detail in Chapter 3.