Yes you can baton pass it to other pokemon. It's perfect for those pokemon that don't quite have the defenses to set up stat boosting moves, or anything else you can think of. Also, all of these moves are baton passable:
Aqua Ring
block (both on you and your opponent)
Confusion
Curse (when used by a Ghost on the Baton Passer)
Embargo
Focus Energy/Lansat Berry
Gastro Acid
Ingrain
Leech Seed
Lock-On
Magnet Rise
Mean Look (both on you and your opponent)
Mind Reader
Perish Song's Count
Power Trick
Spider Web (both on you and your opponent)
Substitute (keeps its HP)
Stat boosts / drops
