According to the big G, Notebook allows you too:
Clip useful information.
You can add clippings of text, images and links from web pages to your Google Notebook without ever leaving your browser window.
Organize your notes.
You can create multiple notebooks, divide them into sections, and drag-and-drop your notes to stay organized.
Get access from anywhere.
You can access your Google Notebooks from any computer by using your Google Accounts login.
Publish your notebook.
You can share your Google Notebook with the world by making it public.