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This was explained by the Financial Times Monday based upon anonymous sources.
"Facebook at Work would make it possible to chat with colleagues and friends as well as professional acquaintances. The business network would more or less look the same as the current Facebook site, but the personal photos and status updates of users would remain invisible to business contacts.
Facebook would also work on a way to edit documents together. This would be the social network competition of Microsoft Office and Google Docs.
The first companies are already testing the business version of Facebook. According to the Financial Times, there are no plans to charge for these service. The business network would be seen as a way to get people to spend more time on Facebook, and thus allowing for more adverts to be shown.