Google Docs is a free, Web-based word processor, spreadsheet, presentation, and form application offered by Google. It allows users to create and edit documents online while collaborating in real-time with other users
List of the features
There is a limit on how much a user can store on their account.
User can have a total of 5,000 documents and presentations, 5,000 images, 1,000 spreadsheets, and 100 PDFs at one time.
Share and edit presentations with your friends and co-workers
Running on Microsoft Windows, Apple OS X, and Linux operating systems
Resources: http://docs.google.com/