PR is the pargerank in terms of importance of your site. If google find your site very important then it will give you PR10 and the process will start from PR1. If you have quality backlinks then you will get PR. However, you will have to wait for at least one year and work hard.
I agree if you work hardly and have clearly plan to building backlink , you will get PR as soon as you done something. But PR 10 is not easy because no webmaster get it in this time ( just some site ) . One more, begin of PR process at N/A ( PR 0 ). The way you get PR1 , 2, 3, 4 is normally , but from PR5 or up , it's hard way with anyone. And also, if you can't keep your backlink ( lost or remove ) your pr will be dropped.
PR value is shortened for PageRank from Google co-founder LarryPage. It is a part of Google ranking algorithms , and a method for Google to mark the level / importance of web pages. It is the universal criterion to measure a site is good or bad. PR level is from 1 to 10 and the full is 10. The higher the PR value is, the more popular web page is, that is, more important. For example: a website with PR value of 1 indicates that the site does not have the popularity, and the PR value of 7-10 indicates that the site is very popular (or extremely important). General PR value of 4 can be regarded as a good website. Google says their own websites has the PR value of 10.
The full form is page rank. google gives one page a number out of 10. that number shows how the page is. the quality of the page. so if your page is PR2 and your another page is PR5 then PT5 is good. its starts from PR0. and ends with PR10. you can see google's PR is 10.
PageRank is a link analysis algorithm used by the Google Internet search engine that assigns a numerical weighting to each element
Page Rank is what this guy said....the way it is broken down is into backlinks, the more links to your site, the higher than page rank (with some exceptions like .eduy, .gov)....its kind of like a trust rating... The way backlinks work is the way votes work in an election, the more votes (back links) you have, the most trust you have earned thus resulting in a higher PR. The concept is all but dead IMO, but Google openly will admit the higher your PR, the more likely you are to rank for a keyword....that doesnt mean that if you have a PR2 you have no chance to outrank someone with a PR5, but that all reverts back to quality SEO.... For what I consider the authority on most things SEO, I would start reading seomoz.org material to begin your quest. From there, you will be able to know where to go to find quality info.