Google Places (http://google.com/places) is a free service from Google where business owners can market, promote, and advertise their business. It lets business owners leave their mark on Google Maps and list various information about their business including their business name, products/services, address, contact details, operating hours, accepted modes of payment, photos (of establishment/products), etc.
Google Places was originally known as the Google Local Business Center which was launched on March 15, 2005. Quoting from the press release relating to the launch:
The Google Local Business Center enables businesses to more effectively reach consumers searching on Google Local with accurate, useful and up to date information about their business. By enabling businesses to easily add or edit information whenever they like, businesses do not have to worry about outdated content or publishing deadlines. Businesses do not need a website to add a business listing to Google Local through the Local Business Center.
The service was renamed to Google Places on April 20, 2010 because, according to Google, they wanted to better connect it with “Place Pages.”
Along with the name change, Google also introduced a few new features, including:
QR codes can be used to do many things, such as to navigate to a website, dial a phone number, and all sorts of other things. The QR codes that Google Places provides will take people directly to the mobile version of the Place Page for the business that owns the QR code.
After you’ve created your Google Places listing, Google will provide you with a customized QR code that will help you market your Place Page more effectively.
One great benefit of having your business listed on Google Places is that you will have the chance to get your business appearing as one of the results on Google’s universal search results (via the local business results).
Every business can benefit from more exposure. Because of current trends, having a great Google Places listing is almost becoming a necessity.

Statistics indicate that more than 50% of all internet/mobile phone searches conducted in 2010 were looking for information pertaining to a local business. As a result, it has never been more important to ensure that you build a strong and meaningful presence for your business on the web.
This includes the necessity to optimize your website for the search engines AND harness the power of local business listings, like Google Places.
While it is free to create your Google Places listing, there is a lot to know.
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