Swords marked as “Battle Ready” are made to a higher standard than your average display weapons. The blades are usually made of carbon steel, as opposed to the more brittle stainless steel and feature longer and stronger tangs.
“Battle Ready” does not necessarily mean the blade is sharpened, this depends on the manufacturer. Some sell them sharp like Cold Steel, some dull like Windlass Steel Crafts, and some do both like Hanwei. So if you need to know if it is sharp or not and it is not mentioned in the description, just ask.
In general “Battle Ready” swords are functional weapons that will live up to actual combat usage. They are closest to historic examples in the fact that when properly sharpened they can cut as designed. However, “Battle Ready” does not mean indestructible. Any sword can be broken. Use common sense with your sword, and it will last for generations. A sword being listed as “Battle Ready” does not constitute a guarantee that it will withstand any abuse you can throw at it. “Battle Ready” swords are not designed for blade to blade type combat, you will want to select “Stage Combat” swords for this activity.