For a tuple $A=(A_0, A_1, ..., A_n)$ of elements in a unital Banach algebra ${mathcal B}$, its {em projective spectrum} $p(A)$ is defined to be the collection of $z=[z_0, z_1, ..., z_n]in pn$ such that $A(z)=z_0A_0+z_1A_1+... +z_nA_n$ is not invertible in ${mathcal B}$. The pre-image of $p(A)$ in ${cc}^{n+1}$ is denoted by $P(A)$. When ${mathcal B}$ is the $ktimes k$ matrix algebra $M_k(cc)$, the projective spectrum is a projective hypersurface. In infinite dimensional cases, projective spectrums can be very complicated, but also have some properties similar to that of hypersurfaces. When $A$ is commutative, $P(A)$ is a union of hyperplanes. When ${mathcal B}$ is reflexive or is a $C^*$-algebra, the {em projective resolvent set} $P^c(A):=cc^{n+1}setminus P(A)$ is shown to be a disjoint union of domains of holomorphy. Later part of this paper studies Maurer-Cartan type ${mathcal B}$-valued 1-form $A^{-1}(z)dA(z)$ on $P^c(A)$. As a consequence, we show that if ${mathcal B}$ is a $C^*$-algebra with a trace $phi$, then $phi(A^{-1}(z)dA(z))$ is a nontrivial element in the de Rham cohomology space $H^1_d(P^c(A), cc)$.
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