Live Documents allows MS Office users to syncronize / share their documents created using Microsoft Word and Excel, across multiple users over the Internet using email. Through a simple, unobtrusive plug-in, Live Documents bridge the productivity gap between desktop applications such as Microsoft Office and the Web.

A Live Document is similar to your normal Word document or Excel spreadsheet in all apparent ways - but under the hood, it is a lot smarter.

Unlike your normal documents, a Live Document is:

• Self-updating - Automatically updates content whenever any change is made on any document copy.
• Secure - Set restrictions on who can read your documents and what they do with them.
• Intelligent - Allows you to assign, track and manage document lifecycle tasks and versions.
• Context-aware – Contextual linking with associated discussions and tasks pertaining to the document.
• Dynamic - Change access on your documents even after you have sent them out.
• Audit-ready - Allows you to track activity, so you know who read, printed, or modified the document.

Live Documents | Techcrunch

Live Documents, Web-enabling Microsoft Office