hey devoured, I had trouble with this terminology when I started developing too.
Basically, the only reason the word "business" is used, is because the terminology developed within the context of commercial software. So in this sense, it is assumed that the software is been built for business purposes... as opposed to say, artistic, aesthetic, or creative purposes.
So, business objects are simple code representation of real world "business" objects. So, you might have a Product Class, or a Employee Class.
Business logic, is logic within the application that is specific to the "business" the software was designed for. So, things like tax calculations, or how products related to customers... that kind of thing.
Note that the idea of Business objects or Business logic would not apply to video game development, or artistic development.
It also wouldn't apply to some frameworks, or libraires, like ORMS or unit testing libraries, as an example, because they are reusable components which are not specific to any "business".